Um, I use a laptop for multitrack recording. - serious recording, and it works perfectly. Not a single problem, no latency, no issues, no dramas.
10 tracks simultaneously. 24 bit audio.
Capacity for 18 tracks. 4 different Headphone sends.
It really isn't that snappy a machine (2008 MBP) . CPU rarely goes over 50%, HDD rarely does either.
I guess spending $1200 on an audio interface, and using firewire makes a bit of a difference.