Hmm, so they are! I was looking on the "categories" sections underneath, but they weren't in there. Doh!
Audacity isn't set up for multi-track recording, which is one problem. It's a bit of a disk-hog, which is another problem. You can't use VST effects with it - or rather, you can use the effects but you can't control them because Audacity doesn't support interfaces for VSTs, so all you get control-wise are a bunch of sliders with meaningless default names. And AFAIK you can't do on-the-fly modifications to the sound while a track is playing - Audacity seems to only be set up to do off-line modifications, which isn't very helpful when you're trying to tweak your reverb or EQ settings.
I started using Mixcraft for multitrack stuff a little while back. It's extremely user-friendly, but it's a bit lacking on features at the moment - no facility for multiple sends to an effect or for bussing, both of which are essential for me. I need to try out some others which are a bit more fully-featured - Reaper is one to try, n-Track Studio is another. If you want something simple, I'd recommend Mixcraft over Audacity, although clearly Audacity has the advantage of being free.