Say you have about $500 to spend for home recording equipment, what would you (should i) buy? Here's what I have so far: PC with Cool edit software, Shure SM58 mic, cables, guitar, boom mic stand, headphones. Ok, with those items out of the way, and $500 to spend, what do you consider to be esstential for recording? That is, if you are recording basic songs ONE INSTRUMENT AT A TIME(acoustic based, with elec lead, sampled drums, with a beck / neil finn flavor). I looking along the lines of compressors, reverb/echo units, but i don't want to limit the suggestions to just those types of things. Thanks!