I'll give you my two cents.
I have two hard drives in my computer -- one running windows 7 and the other running KXstudio(linux). I switch which one I boot from in the BIOS. I also have a Network Attached Storage that backs up to the cloud that mounts on both operating systems.
I use LMMS extensively and it it can, in fact, make decent music. Most of the music you'll find on my music website was done using LMMS. LMMS works on both windows and linux, though I think it is more stable on linux. (You can listen to examples on
www.bretts-music.com)
I also use Ardour 2 and 3 a lot on Linux, as well as Audacity. Between these three programs along with some great linux tools like Jammin and Guitarix along with AmSynth, TAL Noisemaker, PhaseX etc. you can take entire tracks from conception through mastering. And that doesn't even get into the million and one other excellent programs out there such as Rosegarden, Qtractor, etc. Every piece of music on that site was mastered in Ardour on Linux, even for the couple of songs that were done in Live.
Once you get used to it, the JACK subsystem on Linux for routing midi and audio is the most wonderful thing ever. I produced tons of audio for years on Linux before ever doing any audio work on Windows, and compared to JACK-based systems I find Windows to be constrained and half brain-dead by comparison. Also, though there IS a learning curve, the sheer depth and breadth of the tools available on Linux is breathtaking. The biggest trouble is settling on a few to learn and learn well. Some people need constraints to be creative -- and Linux audio comes with few. If wide-open vistas work for you, Linux is the ultimate creative environment. The only downside on Linux is the lack of solid support for the most up to date hardware. But it is still pretty good.
Which brings me to Windows.
The biggest benefit of Windows is it is an 800 lb gorilla. If some hardware company makes an audio interface, it WILL work with Windows or they WILL go out of business overnight. So support for essentially all hardware, even the most bleeding edge, is practically guaranteed. The second biggest benefit is the availability of certain software -- particularly stuff like Ableton Live.
I love Ableton Live, and I love Reaper. Though Reaper works fine under Wine (a windows emulator) on Linux, I think it works better natively on Windows.
For electronic music particularly, the work flow of Ableton Live simply cannot be beaten IMO. It's amazing. There is hardly anything in Live 9 that isn't superb. Add a couple of soft-synths like Sylenth or others, and it is an absolute creativity powerhouse. Love it. If you are used to the workflow of Live, IMHO you will find nothing else comparable on any operating system.
I alluded earlier to my particular solution -- about 80% of my work is done on Linux and 20% on Windows. I use that shared network drive to synchronize files betweeen them. That way, I have the best of both worlds. Still, when push comes to shove, my default is to go to Linux when I have a musical project because the overall end-to-end workflow is better. Audacity is a fantastic wave editor. Ardour does great especially when combined with Jack's powerful routing capabilities. LMMS can't do EVERYTHING -- but you can edit waves outboard, etc. and make darned decent music.
I'd recommend installing a second hard drive in your computer, and loading it up with Ubuntu 12.04 LTS and KXStudio, then dual booting from BIOS and experimenting. I use both. I'll be 100% Linux just as soon as Ableton makes a native Linux version. Reaper too. lol Until then, its 80/20 for me.