Thanks a lot for alll the help guys!
OK, so far I'm thinking about getting the following:
Soundcard, mixer, mics, headphones, monitors.
Mixer, mics and headphones are top priority, cos at least then I can get started.
2 SM57s (for spaced pair and what have you) or 1 57 and 1 i-5 (I heard a comparison and liked the 57s high end and the i-5s lows)
Mixer: You lot seem to be recommending mackie quite highly. Any currently available model to look at?
Other than that I found a soundcraft compact 4 for £70. Does anyone have any strong opinions about the quality and capability of mackie compared to soundcraft? I wouldnd want to be getting a squire mixer when I could have a fender, if you see what I mean. How do they compare?
Headphones: Sennheiser HD280Pro or beyer.
So thats about 250 for mixer (assuming its soundcraft), mics and headphones. Use the headphones as monitors for a while.
Looks like a sensible budget for the soundcard is about £100. Seems reasonable to me: 350 ear-marked total.
Monitors: I'll choose based on sound/price. Lots of searching to do there: I'll likely be stuck with normal hi fi speakers for a while (dont llok at me like that!) till I find the right ones. I'll be looking, based on whats been said in here and advice from mates, at about £300 for a pair.
Does this seem like a sensible start and well-proportioned outlay to you guys? If not, where would you spend the money? Remember: 500 was my provisional amount, but I can go over it if convinced its worth it.
Oh, and the application will be little but me trying to lay down the best guitar sounds I can: not so much for live or even multiple instruments at a time (so, 15 track mixers and the like, while apealing, arent going to be much use to me right now!).