The guys I play with -- there are four of us covering bass, drums, keys, guitar, and vocals -- have been talking a lot about making a demo AND investing in a multitrack recording setup as a songwriting tool. I recently suggested that we invest in some multitrack recording equipment and try to create a demo on our own. So, how would you best spend $500 in the interest of accomplishing these things (the third is a LOW-priority concern, but would be nice): 1) SHORT-TERM: Having a reasonably portable songwriting tool that can be easily shared/passed around 2) MID-TERM: Creating a servicable demo for getting gigs and generating interest in the band 3) LONG-TERM: Producing salable (cheap) product in the event that anyone ends up giving a crap and is willing to shell out a wee bit o' green to support local DIY music Here's the potentially relevant gear that we already have: +1 Yamaha P.A. system + A few combo amps -- my bass amp has a built-in D.I. +Two Shure SM-58s +One SM-57 +A Powerbook G4 that I don't necessarily want to use for this project -- maybe for bouncing tracks if we run out of space on the primary recorder, simple mixing and mastering, and/or CD burning Any thoughts or advice would be much appreciated -- the more details you can offer up, the better. I'm hoping we can have a complete, flexible solution for $500. Thanks, all!