i am a multi instrumentalist and although i have drumming lessons, i know plenty of music theory and have been working on my guitar skills recently. the thing is, i basically just want to record some songs and don't want to blow out huge amounts of cash on a good guitar/ amp/ pedals/ mic/ etc. for something that is basically to show some friends/ post on the internet/ have fun.

I already have a cheap strat copy and a small practice amp, however I was thinking of discarding the amp for this and buying a digitech rp 255, that includes Cubase LE, and plugging my guitar straight into the rp 255 and recording it via USB.

is this the best option for what i am seeking? if not, post alternatives that are about the same price as the one i am thinking of.


P.S. - I want to be using various guitar effects such as distortion/delay/chorus/etc. in my recordings.
That would work fine for just guitar but won't help with drums or vocals. Get a Protools Mbox or something like that. M-audio makes good stuff as does lexicon. If you have a Mac you could use Garageband with pretty good results.
hm i was thinking of using the pre-packaged cubase, is there any reason i should not use it?