yea its advised u use both!! Cool edit is more of a sound editor than a production tool, whilst Fruity is for production!!!
Its alwasy recommended to have a good piece of production equipment used in combination with a equally good sound editor.
Other Notable production software
Acid Pro
Reason(ppl seem to like it)
Modplug tracker - this is a handy sequencer/composer/recorder and the best thing about it is that its free!!!
www.modplug.com Stay away from this if u dont have time understand the art of tracking!
Please Stay away from Ejay
Other Notable sound editors
Goldwave -
www.goldwave.comSoundforge