I'm going to finish my application for my local grocery store, and save all the money i get there up, and get a kickass Home Studio. I plan on getting very high quality gear, but being wise in my purchases as well. For example, I'm going to purchase all the recording equipment i will be using, and buy the computer last (best quality= cheaper price), and may choose to just get a really really beefed up computer and pay in installments. I'm talking 3.2 Gig's with an 800 Mhz Front Bus, HT Threading Technology, baby!
anyways, i won't get the computer until christmas or so (maybe a little after), that way, the price will be very reasonable...
Currently, I'm using Guitar Tracks 2 (worth like $50), and I plan on moving up to either SONAR 2.0 XL, or maybe Cubase, i haven't decided.
I plan on getting a studio quality mic ($500 or more), and running everything else Line-In.
I could do all of this for about $1500, which would be
Dell Computer = $600
New Mic = $500
SONAR 2 XL = $400 (or is it 300?)
Of course, thats the barebones, I will likely spend $3000 on it, and get a nicer computer than that.