I'm planning on recording myself for learning purpose, so I can listen to myself and get better.

I was thinking about buying the line 6 interface, but then I wondered if it would be that much more expensive to record my amplifier.

Would I only need a USB console and a microphone ?
I'd like to not have latency since I'm planning on recording multiple tracks over a backing track.

For $200 I can get a SM57 and an Alesis USB mixer.

Also, how loud does the amplifier has to be ? The maximum volume I can go is about me talking loudly.

Current gear :
Fender Am.Std Stratocaster
Fender HRD / Celestion V30
Weber MiniMass 50
Ibanez TS808
The alesis needs a mic preamp. Not real familiar with that piece of gear, but a pre is a must for the mic. Also, you'll still get a decent amount of latency. The guitar amp doesn't need to be loud to record.

For learning purposes, you'd be better off getting the Line 6 thing. What I did starting out was buy a USB mic and download Audacity for free. Sound quality was awful, but it did the job. The whole SM57 and the mixer may just be a waste of money for what you're trying to accomplish.
Also, you need software to record to a computer. Another added cost. Plus mic stand, plus cables.
The recording forum will get you better answers.

I'd recommend a UX1 (or UX2 if you can afford it) and an sm57 if it's just your guitar you're recording and your not sure about amp vs amp sims. If you're doing vocals you might want to think about a different mic. Perhaps look at some M Audio Fast Tracks as well.

The mic will pick up the amp however loud you have to have it to get the tone you want.
First buy the line 6 interface

Then download reaper and some VST's (I recommend lepou) and an impulse loader such as lecab. Also you will need some good impulses, just google 'em.

Load up reaper and open the VST and impulses in there.

Connec your guitar straight to your interface and record away

This way is much cheaper and won't be loud.
I did think the Line 6 Interface is the better option. Wasn't sure thought.

I guess Audacity will do the trick ?

Thanks for the replies.
are you trying to go on the cheap?

cheapest option is to use a 1/4" male to 1/8" female adapter (mono to stereo respectively) use a ipod cord to plug into the native sound card and use audacity as software. get some free amp sim plug-ins online. total cost: ~25 bucks.
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Also, you need software to record to a computer. Another added cost.

Not really - Reaper is free and just as good as the "professional" DAWs out there, if you know what you're doing.
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maybe you're not saying the right things? an amp likes to know you care.