There are various other tools aimed at helping people to transcribe music from recordings. Here are the ones I am currently aware of. None of them are in head-on competition with Transcribe! as they all have differing approaches. Personally I don't think any of them equal Transcribe! as a general purpose transcribing assistant but perhaps I'm biased - try them and see.
There are also tools which are quite different from Transcribe! such as hardware playback devices, and software which attempts automatic transcription (output as MIDI or notation, Transcribe! doesn't do).
AKoff Music Composer
AmazingMIDI by Araki Software
Amazing Slow Downer by Roni Music
Audio Speed Changer from AudioTrimmer.com
AudioLobe from JS8 Media
AudioScore from Neuratron
AudioSculpt sound analysis tool from IRCAM
BestPractice by Robert Moerland
Capo by SuperMegaUltraGroovy
CLAM Music Annotator
DsChordFinder by Dubbeldam Software
ELAN by Eudico
Elevation by Superscope
f4 transcription software for audio and video
Frequency Analyzer by Reliable Software
Guitar & Drum Trainer by Renegade Minds
Guitar Shed by Astoundit
GuitarMaster by RoboSens
Integrated Music Transcribing Tool - Music Analyzer by Atsu Oka
Intelliscore by Innovative Music Systems
iRehearse from RJV Media
Loop-A-Lick by DPR Technology
LoopyLoopX by Jean-Louis Valero
MPEX time stretching by Prosoniq
mTrax by TerraSofta
Music Analyzer by Andrei Volkov
Music Explorer by Geoff Peters and Gabriel Lo
muDic by i-yanase.com
Neutrino by MachineCodex
Online Time Stretcher from onlinetonegenerator.com
PaceMaker WinAmp Plugin
Pitch 'n Time by Serato
PitchScope by Creative Detectors
Play It Slowly by Jonas Wagner
Pulse Master by Pianosoft
Riff Master Pro
Riffster by Polarity
ScoreExtractor by Roman Yakimenko
Slo-Mo Director by Mike Herberts
Slow Me Down by Roni Software
Slow MP3 by Pekka Kauppila
SlowGold & SlowBlast by World Wide Woodshed
Solo Explorer by Recognisoft
SoundTouch Audio Processing Library
Speedshifter from The Associated Board of the Royal Schools of Music
Tartini - real-time music analysis tool
33 RPM by Edenwaith
TimeStretch Audio Player from Jonas Wagner
Transcribe! by Seventh String Software
Transkriber by Reed Kotler Systems Inc
TwelveKeys from NCH Software
Waon Wave-to-Notes transcriber
WIDI Recognition System
Amazing Slow Downer
Anytune by Anystone Technologies
Capo by SuperMegaUltraGroovy
iHearit by Trent Reschny
iLift by rCreativ
Notedown! by Thomas Leitz
Slow Down Music Player by Santa Cruz Integration
Slow Down Music Trainer by Santa Cruz Integration
If you are a programmer and you want to know how to write such programs, some of the above projects are "open source" which means you can download the source code and look at it. For spectrum analysis see Music Explorer, and for slowdown see Best Practice. I haven't actually looked at the source for either of these so I can't say for sure what you'll find.
How to Slow Down - my own technical article on how to slow down music without changing the pitch.
Automatic transcription - some thoughts of my own about the difficulties of automatic transcription.
TheoreticallyCorrect.com - tutorial material about using Transcribe!
Matija Marolt, University of Ljubljana, Slovenia - research in automatic transcription.
Anssi Klapuri, Tampere University, Finland - research in automatic transcription.
Other names/places for automatic transcription: http://www-sigproc.eng.cam.ac.uk, http://iie.fing.edu.uy/investigacion/grupos/gmm/audio/, Keith Martin, David Mellinger, Dan Ellis, Paul Walmsley, Simon Godsill, Manuel Davy.
Alisdair MacRae Birch site - a useful page with more info about transcribing hardware and software.
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