So is it worth getting any kind of new hardware? SB Live lets me replace every instrument with a different font or WAV file and I can use up to half my memory to do it (256meg is a lot of soundfonts

Is most musical composing still done with MIDI? Or is there some nice new stuff out there that works way better? (Note, I'm not interested in making beats/mixng tracks like CoolEdit lets you do, I'm interested in composition)
What's some good software to use?