First of all I did the 250MB ZIP conversion (to have more recording time) and I recorded all the backing tracks, bass, guitar, vocal and drums (using a DR-5 drum machine). I placed four mics on the drums and sub-mixed them using a Mackie mixer because I wanted a stereo mix on the drums. I used a patch cable and plugged them into the BR-8's R&L Line-In, I disabled the Effect option on the BR-8.
My drummer used headphones, to be able to hear the song and I lowered the volume of the e-drums (he found that the e-drums gave him a good 'click' track). I armed a set of V-Tracks to record to and recorded him playing. Later I had the bass player record his track, again to v-tracks and the harp player recorded his track. I later went back and erased my original tracks, to free up more time and re-recorded my rhythm guitar and a lead guitar track.
It sound like a lot of work but it really wasn't, the song we recorded was one of my songs and I always record a demo on the BR-8 first anyway. The other guys in the band did their takes in one or two takes, it really worked out well, so well that we brought a used VS-880EX and decided to record our second CD ourselves.