So up to now ive recorded using aux from amp directly to my pc which is the worst way hah.

Whats the best way to record? My budget is under 200.
Im recording instrumental rock, pop rock, and vocals.
At the moment im ready to buy a shure sm57, and M-Audio fast track pro..
Is this a good setup? Let me know your insight, thanks!

Ibanez RG350DX Electric Guitar With DiMarzio Tone Zone
Academy Electric Guitar
BeaverCreek Acoustic Guitar

Roland Micro Cube Amp
Academy 15W Amp
Peavey Vypyr 30
Peavey Sanpera Footswitch I
For a beginner that set-up is fine.

The Shure SM57 is a brilliant all purpose microphone and the M-Box will allow you to capture the sounds from the 57 into Pro Tools (I believe they still come with PT?). If this is just leisurely recording, you can monitor using a pair of semi-decent headphones such as the Sennheisser H202's, which are incredible value for money!