[Camiel]

The great thing about Live is that you can use it in mutiple ways. Not only is Live a DAW, it is also usable as a loopplayer for DJ purposes. My workprocess with Live is that I mostly make some loops with a bassline, some drums, some synths, etc. and then I will play with these loops to make a first draft of the song that I'd like to produce. This first draft will be recorded in the session view and then I will work on it (EQ, compression), add and cut pieces and effects, etc. to get a final song.

You can use Reason within Live via Rewire. And in Live you can also use VST plugins. Some would say that the sound of Live isn't the best quality though. Personally I'm happy with the sound though.