I upgraded to Reason 8 as soon as it came out. No regrets there
Yes, it's mostly a workflow update, but it makes the whole experience of working with Reason a lot smoother.
There's also Figure and Take on my iPhone, but I must admit I rarely use them. Figure I use sometimes, but Take I use almost never (which might be due to my complete lack of singing talent). I could use it to record guitars, but I prefer using a proper microphone for that.