Yes.
Uhh lots of us, actually. All my songs here on OCR were done in FL, with the exception of the Ultima Online song, which was done in Reason.
The main difference between FL, and the other major DAWs (such as Sonar and Cubase) is that those programs are more suited to recording and production, while FL is aimed towards general sequencing (though you can sequence in Sonar and Cubase, and you can record in FL, they just aren't as good at it as their counterparts). Also, different emphasis may be placed on different parts of the production process. And of course, differences in the GUI. Reason, however, is another beast entirely. It almost functions more as a fancy tracker with piano rolls. It's extremely limited in what it can and can't do. Reason is entirely lacking VST/DX support, is not capable of recording, and has a very limited sample set. Another thing to note is that in the past 5 years, Reason has hardly changed at all, while FL and Cubase have vastly improved.
Short answer: no. This goes for all audio editing software. "Editing out" is something that is not easily accomplished, unless you happen to have access to the original, individual tracks. Which you probably don't unless you happen to be a producer, in which case you wouldn't be here asking questions.
See #4. You can cut out a section of something (as in a phrase or loop, NOT individual instruments or vocals) and use it, but that's generally frowned upon as far as remixing goes.
If you absolutely can't afford it, get the most basic version that comes with the Fruity Soundfont Player (can't recall which version that is at the moment). Otherwise I'd recommend the XXL version. There are thousands of free VST plug-ins available on the web that can do pretty much anything else you need. An excellent place to start is KVR Audio. You can search for free VST instruments and effects there, and even sort them by user ratings etc.