It really boils down to what you want to do, how you want to work, and what kind of compromises you can accept. A computer setup is potentially far more flexible and powerful, but also more expensive and dealing with POC configuration issues and OS issues is really a big pain and not that simple. A stand-alone is like a PortaStudio -- it's an all-in-one box, you got what you got. There's effects on board, but you can't upgrade them like you can with DirectX or VST effects on a PC... you got the little tiny LCD to deal with... you have the 8 or 16-track limit to work with... but they are so much easier to deal with than a PC, and probably less expensive when all is said and done. The sound of either a computer-based or a stand-alone multitrack is potentially so good now that it's not the real issue. It boils down to skill and talent and learning to make the most of what's in front of you.