New to Home Karaoke - is this program for me?

[JDlugosz]

My wife wants to do Karaoke for family and friends. The so-called player that came with the X-Fi sound card is useless. Sure, it can pitch-shift without using any CPU time or distortion, but it can't handle any of my content files!

She has a bunch of Asian VCDs. I've bought some CD+Gs. I want the ability to adjust the key. Some of the VCDs have lead vocals on the right channel, so the player needs to duplicate the left channel to both if that is turned off -- just changing the ballance to far left is not good, as she wants sound coming out of all 5 speakers, not just one.

She also wants the microphone to "echo". That is, a reverb effect.

I've read sites for several PC-based Karaoke players, and this seems to be one of the most serious. But it costs more than a stand-alone player!

Is this program for us?
I need to have it figured out for a party on Saturday.