Best Setup? Options

[bjurusik]

Alright, I've tried to find answers to my questions in the forums, but I'm still confused. I'm new to computer recording and am unsure as what I need. Currently I have a 17" iMac and a Tascam US-428.
Basically I just want to multitrack with guitar and voice. I've never really used midi, but in the future I may add a midi keyboard. As I understand it, the midi keyboard plays sounds off your computer correct? For example you could chose a grand piano sound set and the notes are controlled by the keyboard. Now when you record a guitar or vocal, it shows up as a waveform. Does midi do the same thing? Say your drum track is midi, is it going to show up in the tracks window below the guitar track? Any suggestions as to what software would work best for me? It has to be reasonably cheap, 300 or less. I've looked at Cubase, Logic, and DP, but they all seem like way to much for what I want to do. Would I be best getting something like ProTools LE? thanks.

[xingu]

What are you recording (audio, MIDI)? What program? I would suggest playing around with the buffer settings within the 428 Manager and/or the recording app itself. (lower = less latency)
There's also the input monitoring button on the 428 that bypasses your computer and gives you the sound direct thru the Tascam - this way, you won't be hearing the latency as you record. The only time I've really had to do that is tracking at very fast tempos because the latency is pretty minimal otherwise. Might be more difficult if you're not playing to drums or a click track...