I'm not sure that this is a recommendation as such, because my home setup is very
modest. I do not use backing tracks and have no use for sequencers (keep it live
I say). My audio inputs are fed into a Alesis 6-channel mixer with 2-channel output
USB to the PC so the recording process is entirely digital. This is captured using
a faithful old copy of CoolEdit and generally I adopt a "one take" approach. Cheers.
Spexx.