Set up for under $1000? (not including comp)

[Big Monday]

I own a Compac 5460. Amd k6-2, 475mhz, 8gig hard drive, 96mg of ram. I can also scrounge up about $1000.
I will be recording acoustic music. Usually we record the rythm guitar and lead vocal together and then track everything else on top. So I would like the ability to record 2 tracks simultaneously and will need about 8 tracks total.
I guess I will need mics (2) a soundcard (I was thinking the wave 424) and some software (such as cakewalk or cool edit)?
The end product will be sold in coffehouses and small pubs where we gig so I want it to sound nice enough to sell but doesnt have to be industry pro sound.
Can this be done?
What else do I need?
Thanks for your time and patience with this newbie!

 

[C-Life]

researching the same thing. "Dragon"/home forums have a lot of info on this. from what i catch, the recommedations on necessary components, at a reasonable price include the following:
1.)got to have a good sound card (check sound card basics)
2.)shure 58 mics
3.)software on recording/editing gives a wide range of options. for "8" tracks most programs are sufficient, but all vary in price. this may be something you can allow "budget flexibility" play its part in order to increment money on other equipment(mixer, patchbay, mics...). For instance vegas pro vs. acid 2.0, differ by i think $350.00, but both capable of recording/editing acoustic music.(check up on this more; dont quote me on this one!).
4.)got to decide on whether you need individual preamps or go through a mixer. for two mics it might not be too bad with the preamp route, but you would limit yourself.(?) a mixer, though more costly, seems to be the more economical thing to do as far as potential and flexibility.

I am still researching for the best equipment and prices, but i know that these are the necessitites for what you need. homerecording.com has tons of info on this stuff i just dont remember specific names and dont want to lead astray, you know. peace-C-Life - Godside