I'm not clear on what you want to see. Moving sliders?
Note that "Audio Spectrum" renders spectrum frequency analysis from an audio file.
If you search the web, you can find enough VU meter/ graphic equalizer tutorials. There's 2 or 3 of them on Creative Cow, Dan Ebberts has some simple explanations for this on his site (motionscript.com) and certainly this has been covered a bazillion times elsewhere as well.
I want to do the same for my website - both VU and spectrum analysis of .wav files that playback webpage
Please advise on which adobe product is best suited to making this work?
If you want to do this in "real time" you probably want to do this in flash;
If you want to play a movie file generated from your audio, then AE and then export to flash video