I don't like ribbon mics too much- expensive and touchy, easily damaged. JMHO.
I would suggest something other than open-reel machine, too- again, why spend all that money for a touchy, expensive device?
So, my offering, arranged as
1. Recorder,
2. Mic(s),
3. Other devices:
4. Connection and use.
5. What to do.
"What It Does" in [brackets]
On the cheap:
1.Tascam or similar CASSETTE Porta Studio, with at least 4 mic inputs, [records up to 4 different tracks]
2. Four, maybe five or six, NADY-brand mics (they make some decent stuff for eye-popping low prices- far from the best, see the work "cheap," above) and 4 XLR cables,[converts sound to electrical impulses the recorder can use]
3. Mixer with 4 to 6 XLR connections (thus having 4 to 6 mic pre-amps), OR- may be unnecessary, if your Porta Studio had mic inputs and thus mic pre amps.[boost the mic signal high enough for the recorder to "see," allows you to control levels of the different mic inputs]
4. Mic>XLR cable>mixer OR Tube Pre's if needed>TRS cable>Porta Studio. One or two mic(s) on piano or other instrument, one mic on lead vocals, one or two mic(s) on harmony vocals. [Connects everything together to work as a system.]
5. Experiment and have fun. Keeps you from getting too wrapped up in all this and wishing you had never thought it up.
A bit more money:
1.Tascam DP-01, or similar, [records up to 8 different tracks, but sometimes only two at a time]
2. One or two, Shure SM-48's (not a typo- 48's are decent and less expensive than 58's) and 4 XLR cables, and one or two condenser mics.[converts sound to electrical impulses the recorder can use]
3. 3. Mixer with 4 to 6 XLR connections (thus having 4 to 6 mic pre-amps), two TRS cables, OR Two PreSonis Stereo Tube Pre's.[boost the mic signal high enough for the recorder to "see," allows you to control levels of the different mic inputs]
4. Mic>XLR cable>mixer>TRS cable>Porta Studio. One condenser mic on piano or other instrument, one SM-48 or such mic on lead vocals, one condenser mic on harmony vocals.[Connects everything together to work as a system.]
5. Experiment and have fun. Keeps you from getting too wrapped up in all this and wishing you had never thought it up.
I think that covers it. Cost could be as low as about $100 if you find everything in the "cheap" catagory used, to about $1000 if you bought everything new and got a bit lusty with quality.
Others here will, no doubt, have critiques of my suggestions. That's okay, I don't know everything.
One thing I would take issue with, if someone contradicted me on it - DON'T FORGET TO HAVE FUN.