the 1604 is what you want.
if you've got multiple midi outboard gear (sound modules, keyboards, drum machines, 1200's) that you want to connect getting a 1402 will do the trick, but then when the beats get good you are going to want to have vocalist come in, then guitarist comes in, then bass players come in, then percussionist (congas, shakers, timbales), and before you know it the 1402 just won't be able to handle everything you want to throw at it.
i've had very good results with the 1604vlz pro. if you've got hot, fat, warm equipment then the 1604 won't prevent that warm tone from being transferred to your audio medium. it won't make a weak sound module more warm.
i use
the roland xv-3080 (with orchestra card) for keyboard and string type sounds, and the asr-x pro for drums and sampling. i think i'm getting a good thump, but you've got to know how to mix and master or all that pristine recording won't be worth a damn.
goto my web page and select the audio section. all of those hip-hop tunes were made with the 1604.
http://www.crosstudio.net