So I know next to nothing about recording at home or on my own for that matter, but I thought i'd give it a shot.

I purchased some MXL condenser mic's and an m-audio fast track pro audio interface. I was wondering what the best option was to record guitars? I thought it'd be a simple plug and play thing running my guitar through my Madison Divinity I and then to the FTP, but it was clipping and whatnot, and just generally not working. (I'm using Mixcraft. I have several friends mention something about buffers and the delay, which they helped me adjust, but to no avail.)

So I was wondering what the best means would be to record guitars. I also have a Spider 2 combo amp from years ago that I could use. I heard those have a 'balanced output' and might possibly work with the line out running to the audio interface. Would it be better to just splurge the money on a line 6 pod for an easier plug and play possibility? I was hoping to have the guitars sound decent, play to programmed drums, and track bass and vocals on my own as well. I'd just like to spend as little as possible with what I already have since I just spent loads on assembling my pedal board. haha.

Also, I'd love to try and mic my madison, but I hear the tone doesn't really shine until you start getting tube amps a little louder. I live in a townhouse with some rather irritable neighbors, so I don't see that happening soon unless I could try to sound proof the bathroom with household items like mattresses and whatnot. Just wondering what my best options are.

TLDR: Want to know how to record guitars w/ ease for cheap.
im no pro, but personally i think there is no specific BEST WAY to record anything...
it depends on what u want
i prefer micing guitar amps coz i like the variety of sounds u can get n etc...
but yeah, i use a 20 watt solid state practice amp with a zoom g1x pedal now to record...
and it sounds good enough for me to record metal |m|

at first i used to record with a 5€ msn mic, but now i have finally upgraded my set....

u can check out some samples at www.myspace.com/666dod
or my profile (profile only features older songs)