I'll add to what's been started. There's three basic elements to any studio: 1) Equipment (recorder, mics, etc.) 2) The Rooms (Control, recording) 3) The Engineer (guy who records and mixes)
You've got a little bit of all three right now, and to upgrade your system you've got to improve all three. You've got some alright equipment to start with, and you'll need to get some more. You've got a room to record in, and I'd advise that you definately improve that rooms acoustics. You've got some skilz, and you'll learn to develop them by reading a lot and practicing.
First off, what's your budget? Secondly, tell us more specifically what gear you have? I'm gonna make some suggestions and lay out some prices as some reference so you can see what I'll likely suggest.
Like buddy-what's-his-face just said, I agree that any studio needs at least 5 mics - 1 large dynamic (kick, bass, guitars), 1 regular dynamic (guitars, snare), 2 Small condensors (overheads, acoustic), and 1 Large condensor (Vocals, room, guitars, acoustic)
My suggestions for a good starter setup would be (all prices new, but I'd try and find em used if you can):
1 AKG D112/Shure Beta 52 (200) OR 1 MD421 (350)
1 Shure SM 57 (90)
2 Oktava MK012 (250) OR MXL 603 (150)
1 Rode NTK (500) OR AT 4040 (250) OR CAD M179 (200)
After this, it's all extra candy. With 5 mics and a good DI you can record everything in a typical band, 1 instrument at a time. Once you've got those basic categories covered you can start adding new mics and upgrading them to get more flavours. If you want to record more things at the same time you can add more mics (for instance, adding mics for toms and hi-hat, adding more mics for recording more than one amp at the same time). Most people like having choices, like 3 or 4 LDC's, 2 pairs of SDC's, a few dynamics, and 2 different kick mics. Using mics is a whole other subject and I suggest you read A LOT on that subject.
Next you'll have to make sure you have enough preamps. I suggest you get a solid base of 8 identical pres - call them your workhorse pres. Try to get the best you can, because these will be your pres that can be used in any circumstance. Good examples include the M Audio Octane (600),
the Focusrite Octopre LE (600) and some others. With your VS-2480 you can plug mics into these pres and then plug the output on the back into the line ins on the Recorder. After you've got your workhorse pres you can start to look at buying better individual pres - these become your 'money' pres. Buy the best you can get here, because you'll use it as your primary pre for things like vocals, guitars, snare, etc. becaue it 'should' sound really good for what you want it to. Take your time and try a lot of pres out before you add a few of these to your system.
You've got the recorder, and this qualifies as the next three elements of a typical recording system - the interface, recorder and mixing software. Do you like it? Keep it and work with it, learn to use it to it's potential. When you've outgrown it then you can look at upgrading.
After this is probably one of the most important items in a soundchain - your monitors. This is NOT the place to skimp - get the best you can! A good set of starter monitors would be the Mackie HR824's (1000), or the Event 20/20 BAS (800?). Make sure you don't skimp here!
Lastly for equipment, there's a lot that you'll overlook if you don't plan for it now! Mic cables, headphone amplifiers, snakes, storage containers, mic stands, music stands, pop-screen, headphones - all that stuff starts to add up. One note about the miscellaneous stuff... Make sure you buy quality cables - that's not to say expensive, but buy good quality. I personally like Canare Starquad cable with Neutrik ends on it, and I make my own which saves me a bit of money. Nonetheless, if I were to re-make all my cables (mic and TRS) it would probably cost me close to 500 bucks...if you want to record lots of things at the same time you're going to need to think about all the misc. stuff.
Ok I think that's all for equipment for now... I figure if all you've got is the recorder and 1 or 2 mics you'll likely want to set aside 3-4 grand for all this equipment (800-1000 mics, 800- 1000 Misc, 600-1000 pres, 1000 monitors).
Next is the room...
Jacob