I know I haven't really posted much, so you guys probably will think I don't know what I'm talking about, I've just been finishing up the Mark II Version of my recording rig.

Hope to post some MP3s soon, though I must warn you, It's gonna be some weird sounding stuff (genre wise).
Anyway, I'd just like to make a couple points:
1) In regards to the "money spent is a direct reflection of quality" comments made: I wouldn't say it's money, It's more familiarity with your setup. Think of it this way. Some bands have recorded their albums in home studios. Not commercial studios open to the public, home studios. I know they take it somewhere else to get it mixed and mastered, but you need to think of it this way. If you work long and hard enough, you should be able to get a close sound. I know this from an independent band who can make some damn good recordings in their "home studio". Check out Hydrovibe.
www.hydrovibe.com.
2) Let's face it. What most of us are recording right now isn't going to be in your Tower Records, at least the recordings we've made. If the songs make it there, it will be done in a pro studio (most likely). Rather than pressing for the sound you hear on your commercial CD collection, press for a sound that makes your friends say "whoah, you did that?" The ultimate test is giving a demo out to people who don't know you will, and ask them what they think of the sound. Trust me, people who aren't really into the underground scene have EXTREMELY picky ears.
Just wanted to say that info / garbage.

Laterz.