I suppose what I am going to say will not change squat if you have a gung-ho wannabe recordist bass player but!
Your time and money might be better spent in a proper studio. The Babyface setup can be used to sharpen up your musical skills? A studio is no place to argue song order or rewrite key changes!
Another idea: The Allen and Heath M track recorders?
Dave.
I did offer to go to a real studio but my bassist was offended. He just finished his school as sound technician and of course he wants to apply what he learned and practice. We will probably do the same setup as last week, it sounded pretty good once we mixed up the song. We had 2 over head, one for the bass drum and one near the hi hat. The hi hat was too loud though and it was hard to lower it since not only that mic recorded it. But it's ok we learn from our mistakes and next time we will do more sound checks before we record. Also we will record the singer after, his mic was recording everything else too hehe. So that means we will also have two more inputs to put mics for the drum (one that was used last time for the singer and one we didn't use because of phantom power). Thank you for your comment.