Squint-
How many tracks do you need to record at a time? If you'll never need to record more than two, this is my recommendation as far as a recording setup for around $500:
(1) Maudio Audiophile (I use this card and it sounds great. I guess my only other experience is with a SoundBlaster Live, tho, so I haven't compared it to anything high end.)
(2) Presonus BlueTube Two Channel Preamp (I've used it, and it was much, much better than the preamps in
my Fostex 450 mixer. Maybe there is a dual channel preamp for around that price that others around here can recommend as well.)
(3) Really Nice Compressor (I've heard nothing but good things about it, and if you're like most of us here, there are a lot of situations where you're going to want to compress the signal on its way into the computer.)
(4) N-Track recording software (I can personally vouch for this program, and state that it's easy to use, sounds great, and stable. At least in my experience. Plus it's only $59 for the 24-bit version.)
You can get the Audiophile for around $160 new, the Blue Tube for around $125 from Ebay (or $139 from
www. musiciansadvocate.com), the RNC for around $175, and N-Track for $59. That's around $500, and instead of just getting a soundcard with a lot of channels you won't use, you'll be getting the soundcard, a decent preamp, great recording software, and an excellent compressor.