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How's this for a basic studio setup?

Alright, I'm thinking of putting together a small project studio that would be for recording my stuff and also recording friends who can't afford the full cost of a pro studio all the time. So, I'm looking for versatility in what I buy. I've got $250, and I was hoping to get a pair of mics, a budget compact mixer, cables, and mic stands. At the moment I'm looking at this:

Mics: 2x MXL 909 or 990 or 2x Cascade M37 (all about $120 shipped)
Board: Behringer UB1202 (wanted a Xenyx or a Tapco, but that's out of budget...) $70
Stands: pair of onstage stands mic stands - $30
Cables: pair of budget cables ~$20

I would just run the line out of the mixer into my soundcard. I wanted a board with 4 preamps so that way I can expand a bit. I'm hoping to be able to do vocals, percussion, acoustics, cab miking, instruments, and the occasional choir with this, so suggestions/comments would be appreciated.