No, he's not... DD, you really need to find a book on BASIC multi-track recording. If I come across a good one, I'll post it for you and others.
What some of the other people were trying to tell you before, is that the reason they call it "Multi-Track" recording, is that it is made up of MULTIPLE tracks. The idea is that you record as many tracks of sound as you have mics and sources and tracks (more than two), THEN you use a mixer, feed ALL those RECORDED tracks into the mixer, and adjust levels/panning/EQ, add effects, until you like the sound of the two stereo tracks you've MIXED DOWN to, then record those two tracks to a CD, for example.
The reason they call it "MIXING DOWN", is that you go from, say, 8 or 24 tracks of sound, DOWN to two tracks (stereo)
What you've just done, is recorded what they call "Live-to-two-track"- The end result is what you're stuck with, as TRK tried to tell you. Now that you have a two track recording, about all you can do is to tweak those two tracks with EQ, balancing, etc, until you're as happy as can be with them. Even an experienced mastering engineer would have a tough time giving you more of one instrument now that you have only a two track mix.
What you've just found out (re-read this again if you're not sure) is why it takes a pretty seasoned recording engineer to successfully record "Live-to-two-track"- basically, once your done, YOU'RE DONE!!! Sooo, if you didn't get it right, you start over.
Until I can find a really good primer on multitracking for you to buy, here are a couple links you can get some terminology from -
http://www.rane.com/digi-dic.html
http://www.saecollege.de/reference_material/index.html
read/click everything you find there, it will help explain a lot. Each time you read this kind of stuff, more stays with you, until eventually things start to make sense...