Ok, after looking around, I've seens some stuff that might work...
The plan would be to get an E-MU 0202 and a mic (would an AKG D77S be an ok alternative to the Shure?), mic the amp, running to the E-MU and use Reaper as my recording software (and would add a drum sequencer to this later).
Would this give me a somewhat decent sound?
I know you mentioned other stuff MDV, but it's just a little too much for the moment.
Weeeeelll
I'd say definitely stick with the SM57. I dont know the AKG, they do make good mics but I'm not familiar with that one. SM57 is the way to go because its sound is all over a million rock and metal albums, and as I've said before, if you cant get the job done with that, you cant get the job done. Its the sort of mic that you can start recording guitar with and maybe think 'there are better mics out there', and you will likely find some you like more (my favourite is the MD421) but you can use it and KNOW that the mic isnt a problem. The mic placement is the problem, or the amp settings are the problem or the room is the problem or whatever. Its a bit of kit you can be confident in and eliminate a variable.
I've used an 0202 and it should be good enough sound quality wise, but its a bit slow latency wise, but no matter (expect about 10ms from it, which is sufficient for tracking but kind of borderline; good units get 2 to 4 ms, great units (multi-thousand pound setups) get a fraction of a ms). Its not very stable though, it experiences dropouts. For that reason I'd use a firewire interface. USB can be faster, but its quite CPU intensive and tends to deliver information in a series of bursts rather than a steady stream. Firewire barely uses the CPU and maintains a lower peak speed, but stays closer to that speed so you have more stability for audio. Look at a firewire interface round the 150-200 price would be my advice.
If you go with the 57 and a more stable interface then you should be able to get a decent sound, yes. The variables that will beset you and affect the quality of your recordings when using a mic at home are the sound of the room, the close reflections that you get from a typical home recording environment, mic placement (an art in itself to learn) and learning to adjust the settings on your amp so that you arent really thinking about the sound in the room from a few feet away, but so it sounds good more or less right at the speaker and to a mic up close. Dialing in for a good room sound and dialing in for a good sound for a close mic to sound good in a mix are VERY different things, and its a mental switch and steep learning curve, but certainly you have the ingredients there to get good results.
Remember - recording is much less what you use than what you know. If you know what youre doing you can get very good results with very modest kit. An SM57, room in a house and reapers stock effects and processing is certainly 'modest', but good results can be had. For example
Powerball; ubercab; V30; MD421; Fireface 800; Reaper + Superior drummer 2.
http://dl.dropbox.com/u/3702469/Memento%20Mori%20%28Remix%29.mp3The SM57 would be grittier in the mids, and give less flub in the low end and more attack and sparkle in the top, and I rather wish I had used it, actually, or at least dual miced with it, cant really be certain what the difference would have been between the fireface and emu pres because I never used the EMU pres when I used EMU on the same gear or in the same room. I doubt the difference would be night and day or anything though.
Edit - to elaborate on the stability of the interface thing - note that I recommended a PCI unit. I've used that exact one extensively, and went for it and the PCI in general because its a good unit (much better than its little borthers) and PCI is as fast and stable as it gets. After that its Firewire (subject to the quality of the firewire chipset: apples own are obviously excellent, and texas instruments make superb firewire chipsets, but many stock motherboards suffer from instabilities and dropouts on their budget firewire chipsets, so maybe get a PCI or a TI firewire card to stick your firewire interface on. USB and firewire are the way the market is going, and has been for some time, not because PCI is inferior, its not, its better, but because it can be good enough (more than good enough, in fact, with the right configuration) and you can get a USB or firewire interface and use it with more or less any machine, and its portable.
In summary, all things being equal, in speed and stability, overall,
PCI > Firewire > USB
In overall practicality, provided you have a decent firewire chipset
Firewire > PCI > USB
Since with a good firewire chipset the gap between it and PCI is pretty much closed, and you get the added flexibility/ease of use/practicality as well.
The above is mainly my experience and subsequent opinion, and if you (or anyone) learns or knows anything that contradicts it please tell me, but its the best guidance I can give on the matter.
Utterly ignore USB 1.0, if any are even still made; its niether stable nor fast enough.
