"What do I use for monitors? Ha! Ha! I use two sets of headphones; the more expensive pairs is a pair of Grados for about $70. After mixing using headphones I check it out on my PC speakers, which is a small bookshelf set with a subwoofer from Sony. All my equipment that I bought for the purpose of recording: MR8, J-Station, cables, headphones, drum software, Ntrack, total less than $700. And I think I get decent results from an amateur standpoint."
This really isn't so funny. I'm always surprised when people say you can't hear what you've got without buying the most expensive dedicated monitors for home recording purposes. Why?
If you think about it, in the home you listen to music on your hifi system (at least most of us do) so your ears are atuned to how professionaly produced music should sound ON THAT SYSTEM. So if you then mix your own stuff through the same hifi you have a fighting chance of mixing at least to the aproximate balance achieved by the pro's, because your ears know how musicshould sound through that system.
If, instead of using the hifi, you switch to expensive dedicated monitors, you may find that when you play the mix through the hifi system or a boom box, or car stereo, it just doesn't sound right. Sounds great on the expensive monitors, in fact it ONLY sounds great on expensive monitors! That's not what you need to achieve IMHO, what is required is a mix that sounds good in the car, on the hifi, on the boom box and you're more likely to get that in a home environment by mixing on a system that you know how music should sound on.
Expensive monitors have a place, but I think for a person on a limited budget at home they need not be top of the list if good hifi speakers are available as an alternative.