After about a year of practicing I have a "Hondo" guitar and a pod and I want to sound like Jimmy Page... whaddaya think?
Recording is a discipline, a learned skill, like an instrument is a learned skill. No matter what the dipstick at the Banjo Mart told you, you can't buy a few cheap trinkets and make a record... well, I guess you can, but your record will be no better than my guitar playing with the time / skill investment I outlined above.
There are people at all levels of this game with varying degrees of skill and tool sets... some can wank you out a quick demo for $500, $1,000, $5,000 and chances are with each exponential increment you'll attain a slightly better result. Yeah, I could outline how to record vocals and loud guitars for you, but it's not going to do you a whole hell of a lot of good. While you could buy a good entry level audio compressor for like $175-, the next step from there will run you in the $1,000+/channel range, which at your level of skill [vis a vis operating a studio] probably isn't worth your time and expense.
If you've taken the time to rehearse and demo a dozen songs, that sounds like you're trying to make an album... I would suggest that you pass on the concept of doing the album at home... and you put as much pre-production energy into choosing the production team for your album as you put into the writing, arrangement and refinement of the material.
Do some homework as to what studios and what engineers are available in your market... what do they charge? how does their work sound? do they have a personality that is compatible with the personality of your band? similar musical interests? a similar philosophy as to how records should sound?
Don't let the "waka waka" hardware mumbo jumbo get in the way of your decision making process... that's like thinking that with a '59 Gold top Les Paul and a Marshall 'Plexi' I'd be a better guitar player than I am with the "Hono and pod"... machines don't make music, people make music... in other words, it ain't the gear it's the engineer.
While a good engineer with superior tools is a job to behold, a shitty engineer with the same tools can actually make more of a mess than a shitty engineer with an inferior tool set. The way to tell the difference is to listen to their work with similar sounding artists... maybe hang out with them for a bit... do they have an "I'm always right" kind of attitude? ...are they kind of aloof and passive about their work? ...do they inspire confidence in you that they can do the job and have the demo reel to back up the statements? These are all questions it will be in your best interest to answer before you spend another dime on recording your band.
FWIW we're actually looking for a band to record in our 'methods and application laboratory'... which I know sounds strange, but that's where we are. We're looking for a band that can write worth a damn, can play worth a damn, and isn't in a hurry... our facility can only be used on nights and weekends, and the primary focus isn't making the band a record but trying out new gear and devising new methods and applications for the hardware we currently possess. So... if you're in the Southeastern Massachusetts area and don't suck, give a shout and maybe you can be the sound source for our trials... if not... spend the requisite time and energy doing homework to find an environment that will be conducive to your band's creativity at a price you can afford.
Best of luck with it.