In my opinion, it does a much better job than Audacity. I've spent the last day playing with Ocenaudio (pronounced Oh-sen-audio). That's why Audacity has always been a favorite it doesn't have all that excess baggage.

They usually take a considerable amount of tweaking just to get to the point where you can record and edit a single track. They default to a bunch of tracks, MIDI, effects sends, busses, and assorted other functions that narrators don't need and don't understand. Most DAWs are made for multi-track music production, not narration. If you want to do a lot of recording for Librivox and/or produce commercial recordings, you might want to look at Studio One. Now that it does, if you only record for Librivox and that only on an occasional basis, there is probably no need to switch from Audacity. When I started with Studio One, Audacity did not have punch and roll. I did pay him to get S1 set up on my computer (basically hiding all the music stuff and streamlining the interface to what I need as well as dialing in some of the settings). Studio One is really a musician's DAW BUT Don Baarns (Red Baarns audio on Youtube and an active Facebook group) has developed many macros/tools/processes to make Studio One work very well for audiobook production.

There is a free version as well that has good punch and roll so you can test it out and then decide if you want the extra features of Artist. I bought it for maybe $60 but that was several versions ago. I tried Audacity, Ocenaudio, Read to Record, and settled on Studio One. I think every person gets rather attached to the DAW they are most familiar with.

Ocenaudio multiple tracks