What's Snapper ?

When you select an audio file in the Mac Finder, Snapper immediately appears right beneath the current window, showing you the wave form.

Play

Hit the space bar or double-click in the wave form to play. Or use auto-play to start playing the moment you select the file. Vari-speed is available too.

Drag, Drop and Convert

In the Snapper wave form you can select a part of the sound file and:

drag it out, to create a new file. 
drag it to any sequencer or audio editor (new in version 2...)
turn the selection into an mp3 file. (or ogg, mp4 flac)
split stereo files into separate .L and .R files or vise versa
convert to mp4 and attach it to an email in one go.
export to AIFF, WAV, BWF, mp3, or m4a.

Which formats can it handle?

All of them.
Snapper opens over 50 sound file formats. That includes compressed files, split stereo, 192 kHz, 5.1 surround files, red book audio, cds and movies containing audio. It shows loops, markers, timestamps, regions, BWF annotations, even album covers. You name it, Snapper can handle it. For some formats you need to install external components.

Finder & iTunes
Snapper follows your Finder selection, and it also shows up when you select a song in your iTunes library.

Pro Tools, Nuendo Logic, Cubase
You can spot (selections from) files directly tothe cursor of your sequencer or audio editor.

Copy Protection
After purchase you receive a personal activation code to unlock the Snapper demo.

What's new in version 2 ?

Much improved integration with Snow Leopard.
Spot-to-cursor of Nuendo, Cubase, Logic and ProTools
Drag selections anywhere, into tracks or even iChat.
Even smaller cpu footprint
waveforms that look better and appear and scroll quicker
loop playback
64 bit file support
trim tool, fades and normalizing
varispeed playback without pitch shift
recent files tab
meters
and dozens of other features you have asked for