I checked out the Song Surgeon site. What a hoot. The infomercialish vibe instantly killed my interest. But that's just me. At least it's developed by the "Lead Guitarist and Vocalist for one of the nation's premier Rock bands". Pretty impressive...:notme
Looks a bit overpriced ($60?!) especially compared to VLC which has many of the same functions for free. Seems with song surgeon, you can slow a piece down all the way to 5% but if you have to go that far, you should probably tackle easier pieces first.
For myself, I use the looper/tempo features in Guitar Rig 4, Amplitube 3 and, increasingly on my Boss eband (great tool). All of which also allow me to record.