I have a $2,000 grant from my University for equipment. Since I have a band also, we want to start experimenting with home recording, I have been researching home recording and these forums all weekend and now I am totally confused. I want to get whatever equipment I need to produce a professional CD. I have a Dell Inspiron 8200 without a decent sound card. We have two Ovation acoustic electrics, a bass, a dobro with a pick-up, drums, and three vocalists. We play through our guitar amps and the mikes go through a Phonic Pod 620. We want to lay down tracks separately and mix them on my laptop. It appears to me that the best solution is an Echo Mona and either Cool Edit or Cakewalk software because it seems like we can just plug in with this and go. Is there anything else I would need? I'm so confused between mixers, converters, etc., etc., and I have to spend this money quick or lose it. Maybe it's better to get a sound card and other devices to go with it? How would YOU spend this money?