We are planing do record a couple of our songs, so now the question is do we record one instrument after the other or all together and then add the vox? help?
P.S. hope This isn't the wrong forum...

In a professional studio, all bands record each instrument seperatly, thus there are generally many takes on each instrument. Best to record the drums/bass first, then move onto guitar/keyboards, then finally do vocals.

If your just doing a casual tape recording or trying to capture a live version of the song, obviosuly do it all at once.
in my band, we have the luxury of having a 6 input DAW with built in drum machine, so we shove in all our instruments, turn on the drum machine, and play through the song all otgether, we then go through and do other takes of the instruments etc. till were happy, we then add vocals and then little finishing touches like background ringing notes or chords etc.
hmm, order of recording generally goes like this -

Bassist <-This is important, as it makes sure that the guitarist fits well into the groove of the song, its easier for a guitarist to play over a bassist than a bassist over a guitarist

Or if you have a good enough mike, like my band generally do, we just adjust our amp positions and volumes and we record from a mike in the middle of the room. Really helps capture the atmosphere of the song, and if you try to multi-track and dont do it well it is very likely to sound rubish, I'd go live all the way until you can do it pro
What we do is record the band as a whole for a ghost track. Then get drums down, then bass, then guitar, then vocals. We find it works best that way.