Recording equipment for PC

[johnzo]

Hi,

I really want to start recording some acoustic guitar with vocals... sorta wanting to reproduce a nice live acoustic sound. I have no recording equipment, so i'm looking to get some... under a fairly tight budget.

At the moment i'm look to purchase a Yamaha mixer off a friend and either a SM57 or a condenser mic.

Now my question is, can i get away with just a Soundblaster Live for now... or isit crucial to get a soundcard such as M-Audio Audiophile / M-Audio Delta??

I really would like to keep my existing Soundblaster Live for another year or so.... but trying to weigh the benefits of having a better soundcard.

Isit also possible... to purchase M-Audio Audiophile / M-Audio Delta, and plug your mic straight into it? and if it is possible... which setup would produce a better sound??

1) Yamaha Mixer, SM57 or condenser mic, Soundblaster Live. OR
2) M-Audio Audiophile / M-Audio Delta , SM57 or condenser mic

Thanks guys.