As a point of comparison, referring to the original post, I have
a Digi001, with Pro Tools LE, and on my old PII-500 I got 24 tracks (playback) @ 24-bit with a few eq plugs no problem. I could only record about 8 tracks at a time with that system though.... also, with low latency monitoring, the record latency is around 30 samples, and the maximum latency in the system (buffers for n-track) is 1024 samples. I upgraded due to motherboard death... with a PIII-866 I can record 18 tracks, play back 24 trks, 4-band eq on each track, two stereo verbs, and 6-10 digi compressors... people with the 1.2 Athlon are getting insane amounts of plugs on the 001, you can check out Digidesign user forums for more...
Also, when you talk about the price of the 001 (around 700) remember that you will have to buy a fairly nice soundcard, n-track, and a midi interface, and that the 001 also includes 2 pretty nice mic pres with phantom power.
don't mean to put down n-track, I have it too, and I still use it sometimes (along with fruityloops, reason, soundforge, etc.), but a dedicated hardware/software combo has a lot of nice advantages too.