That's plenty.

As long as you have the basic tools, you're good to go, the rest is up to how well you use them. Way too many people rely on expensive gear, but what they need to do is learn how to use the cheap stuff first so they learn to make the most out of what they have got.

Looks like a pretty good package, for the price, it has everything you need to get started...Monitors, audio interface, mic, etc. The brands are good.

The quality of your result will now depend on how well you use the gear. Engineering is over 50% of it, especially with these home recordings. But yeah, with that gear + the know how + experience, you could easily release some quality tracks.
Last edited by ChrisBG at Jan 16, 2009,
Define CD,

EP or Demo? Yeah fine (you'll need mastering for an EP)

Commercial Album... you will probably want more and better gear.

That being said, they're great just make sure you know its limitations.