I am about to get some recording gear to record vocals and acoustic guitar. But since I'm a beginner when it comes to recording I was wondering what equipments you guys would recommend for someone who is going to record "folk" music (i.e Bob Dylan etc)?

Sound quality is important to me, but my budget is around $430.

I've been looking at these two:

M-Audio Fast Track Pro


Audio Technica AT2020

Would this combo be a good one, and how good will the sound quality be?

I am greatful for all advices!
The Fast Tracks are decent little pieces. I've got one. But here's the thing: do you have mic stands and cables? Do you have studio monitoring headphones, or studio reference monitors? You'll need something to listen to playback with. The Fast Track Pro is $200 at most places, I found a deal for $160 at B&H, or they have the one I have for $105 which is usually $120 elsewhere:


That one might do you just as good and save you some cash needed for a mic cable and stand. Mic-wise, it would be helpful to know if you had any of those things I asked about.
Ibanez AS93
Fender Marauder
Vox Pathfinder 15R
A lot of sound quality comes from your miking technique and understanding of the process. That being said, those two pieces of gear will facilitate good recordings if you know how to use them.

Do you want to record guitar and voice simultaneously or are you content to do them separately?

ALSO, a mic I would recommend over the AT2020 is the Golden Age Project FC1 mk.ii. There are a couple other guys on here who will say the same and honestly for 100 dollars it's the best mic I've ever heard. It easily competes with many other much more expensive pieces of equipment.

I would recommend grabbing one of those, a Golden Age Project FC4 and the Fast Track. I've never been a fan of the fast track but many people use them to great success.

This is a pretty rough recording in an untreated room with a refrigerator producing a lot of unwanted noise. You can see what 3 minutes of setting up does with that pair of mics however.
Winner of the 2011 Virginia Guitar Festival

Protools HD
Lynx Aurora 16/HD192
Mojave, Sennheiser, AKG, EV etc mics
Focusrite ISA828 pres
Waves Mercury
Random Rack Gear

65 Deluxe Reverb
American Standard Strat
Taylor 712