I've posted a few times asking different questions about recording gear, but I haven't gotten much out of them, so I decided to combine them all into one last thread before I decide which set of gear to buy.

Here's the two ways I could go:

1) Guitar > Amp > 2 mics > Behringer Mixer > M-Audio Audiophile 2496 Sound card > PC

(I'd spend $191 for this setup, including adapters and accessories)

2) Guitar > Amp > 1 mic > Lexicon Alpha > USB 2.0 port on PC

(I'd spend $112 for this setup)

Taking cost and sound quality into account, which setup is better, generally speaking? 1 or 2?
why dont you just buy an m audio fast track or fast track pro if you want 2 inputs and then you wont need a mixer and you can record from the line out from your amp or use a mic. I have a fast track pro going into cubase and the sound quality i get is very good and because of the drivers with the m audio and the specs in my computer i have a very low latency (the time from you strike the string till you hear the sound from your speakers)