Audio recording setup how-to?

[everythingtonot]

Hello all. I am fairly new to audio recording and have setup a decent recording station so far. i need a little help on a few different things.

Here is my setup.

I am using Live recording software.
Sound Card is the SoundBlaster XFI Platinum which has a break out box with:
midi in/out
aux in
opt in/out
coxial in/out
mic/line in

I have a standard sony home theater receiver hooked up and some decent speakers.

I also have a standard 81 key keyboard with:
midi in/out
head phone out

This is how I have it setup.

My keyboard is hooked up from midi out to midi in to the sound card. The keyboard is also hooked up from headphone out to aux in on the sound card. My mic is plugged into the mic/line in. The audio goes from the computer sound card out through optical out to the sony reciever which is hooked up to the speakers.

My questions are as follows:

Is my setup(wiring and such) okay for recording?

Since the audio is going through the computer then the receiver, how do i set up the volume on the receiver and computer so it all matches and what I hear is correct?

Same goes with the keyboard. The keyboard has it's own speakers so it also has it's own volume knob. Where should the volume be on the keyboard?

I am using Live recording software and how might I go about recording the microphone? When I have tried before it has echoed or created a loud noise.



Okay, that is all for now and I am GREATLY appreciative to any answers. I know it might be confusing but i can clarify more if you ask more specifics. I would like to get into small musical recordings and these technical specs are bugging me to make them correct and "professional".

Thank you
Mike

 

[Bulls Hit]

When recording audio in Live from your keyboard, increase the keyboard volume until you get something approaching normal level through you receiver, while making sure there's no clipping on the recorded track in Live. When recording the mic, use the preamp volume and do the same thing. (Does the soundblaster have a preamp?)

I'd turn the keyboard speakers off, and just use the receiver.