My experience with Behringer is good. If it works coming out of the box it will contunue to work. If it is broken out of the box, send it back and get your money back-don't monkey around with service. If you buy from a reputable retailer or on line merchant you should be ok.

But getting to your REAL question...the 1202 gives you 4 mics and 2 lines in.

The USB out will get it to your laptop. So it should work...

But...
Depending on how many folks are in your band, how many sing, and how many have line outs on their amps you could get a decent live recording off it, but not demo quality or anything. Good for reference or maybe getting a gig in a bar.

There are 4 of us: that takes 4 vocal mics, 3 instrument mics (2 guitars, 1 bass) and 6 mics on the drums.

If you are recording each part separately, then mixing it down, 4 mics is kinda light for the drums, but could work.

We use a ub1204 for main mixer and use the effects for reverb and a little chorus only on the vocals. Instrments have a sub mixer and the drums have a sub mixer, and these go in the line in's. Records us well enough to get work.