I mean, you CAN record music Ableton, give it a try, but it was design with electronic music in mind mostly
If you only want to make clips and post them here and upload stuff to youtube, I guess ableton is fine, plus it'll come free with your interface. If you want something more, lets say create your songs and have a more elaborate clips, then to me it's woth moving to something like Logic Express, or protools M-powered (in your case since you have M-audio gear), or even Digital PErformer or Cubase..........it's all up to you.
I'd get ProTools honestly (even though my main DAW right now is Logic, and I like it more then protools) but logic is easy for a Mac user since it has a very apple-like design and workflow, and you being a Windows user, could maybe take you a while. pro tools is the industry standard, everyone's using protools (in the big studios) but again, with home recording growing at an amazing rate every year, it's just a matter of time before Protools stops being the "standard" I guess.
Like I said buddy...it all depends on what you wanna do, the two big boys are Logic and ProTools, then you got the home-studio DAWs like Cubase/Digital performer etc... and again, I must add that Cubase also excels in Electronic music. Protools is a recording/mixing machine (very good at these task) but felt kind of short in the midi department (this is supposed to end in version 8 which is about to hit the streets VERY VERY soon). Logic is a workhorse too, does the recording/mixing incredibly well, and the Midi is just amazin...... I prefer Logic like I said.