steps of migration to digital

[phatstadt]

I currently use a Tascam 488 for both tracking and mixing (the original). I'm thinking about upgrading to computer based recording. I'm kinda dazzled by the complexity of the task, but could invest time and money to get a good set-up.
I was thinking maybe of starting with a computer and software for mixing down, while still tracking on the Tascam, then once I'm fully familiar with the software/hardware for mixing down, move on to tracking directly on the computer as well.
Is it in general the case that it is the same software that can be used for both? I was thinking of getting CakeWalk 9 and take it from there.
Besides the computer, would I need additional hardware (line/mic input device), or in fact is it the case that all my good'ol effect racks will become obsolete?
Should I get the meanest, fastest desktop out there?
Any comments or suggestions?

 

[TAE]

Sheesh! Babble burble balderdash! it's all talk! Elephant talk! Well I am in in HD recording
suspense:I visited the guitar center here in Covina tonight and checked out the 001.
Unfortunately the guys had just set it up today and weren't ready to demo it. For @
$900 this is the closest thing to "user friendly" amatuer HD recording in an "all things
included" package I have yet seen. G.Center and digidesign are taking this puppy on a
road show for the next 30 days. They will have a clinic at the Covina store(10 Miles
east of Los Angeles) on 10/19.
For those of you elsewhere on the planet check with your closest guitar center and find
out when there Digi 001 clinic is. I have been doing heavy research on this whole Home
HD recording and the 1000's of directions one can take. I am fed up with the BS. I
doubt that anybody could take the blindfold test and tell the difference between linear
24 bit and 16 bit converted sound. We are not building bridges here and I
believe "musicians" just want to capture the magic. All those recordings of the 40's 50's
60'70's and early eighties were analog with tape hiss recordings. The greats of the past
would have given anything to have 16 bit quality. And here we bitch about it. I am
aching to get going on some HD recording and if I can get a sweet copy of what I
create for $900 plus my PC and a CDR count me in.
I've made the mistake of jumping in too soon before so I'm going to the clinic and I am
going to ask questions up the ass (poor bastard that's giving this clinic)I hope this is it.
I'll report back after the clinic.