Hi Rob,
I've used Cakewalk since DOS... Yea I'm that old! Never had a problem with Sonar X3 - X2 - X1 Always did the upgrades.
I can't help you with Studio 1 comparison since I've never used it.

I installed cakewalk Band lab leaving my Sonar X3 Pro. on my win 7 pro desktop. I was pleasantly surprised that all my channel effects and VSTs were working. It was as though my Sonar X3 Pro had been given an upgrade!

So far the only a minor problem I have discovered with the BIAB VSTi is with the inputting of chords as mentioned in my previous post.

I have to say I'm very happy with the BIAB VSTi... It has given a new lease on life to my DAW.
Well done PG Music!
Cheers,
Mike