So what it comes down to:
With your soundblaster you can record 2 mics at the time. This is ok for doing a demo the quick and dirty way: mic all instruments, to your mixer, make a mix and record the mix. Listen back, do some adjustements, and try again.
Or you can go the slow and dirty way (dirty actually is the part of having that soundblaster in yer setup

): record everything seperately... Drums are the problem here. For drums, I like to use a minimum of 4 mics. (2 overheads, one snare, one kick) So, for drums you'd still have to go the quick'n dirty way, make a mix, record, see if you need to change something, try again.
With a multitrack soundcard: well, you just mic them seperately and record them, mixing can be done afterwards in a controlled environment...
What 'they' haven't told you yet: for each of this method you need monitors too. Not good stereospeakers. Stereospeakers are meant to sound good. Monitors are meant to sound accurate.
Then there's good mics. That's gonna cost ya a bunch. What do you have at the moment? And what mixer, can you use the pre's in there?
And you need a whole bunch of experience. Especially if you want the quick'n dirty methods to give good results. EQ is hard as ever. Finding the good reverb is harder.
I've been recording for over a year, mixing live for 3 years, and the EQ part still troubles me, and hardly ever found the right reverb.
These guys aren't being mean, they are offering good advice. And they can because they are either (semi)pro's that know how long it takes to get it all together, or amateurs that are still amazed by how long it takes before they get it all together.
Nice to meet ya. I'm the smart guy around here.
