#1
So say I have the Fostex MR-8, which can only record 2 inputs at a time. Say I wanted to use a mic splitter. What one do I use? I searched Musiciansfriend.com for one, and they have them for XLR mic cables, and I don't really know what that means. I am pretty sure I have Lo-Z mic cables (also don't know what that means), so would that splitter work or not? Also, I suppose I am asking the same question about 1/4" splitters.
Fender '72 Telecaster Deluxe Reissue -> Korg Pitchblack Tuner -> Boss PS-5 -> EHX Big Muff -> MXR EVH Phase 90 -> Menatone Pleasure Trem 5000 -> Line 6 Verbzilla -> MXR Carbon Copy -> Boss RC-2 -> Peavey Classic 50
#2
You wouldn't want to use a splitter. You would record two tracks on to one, and then you can't edit them seperately.

If you need to run more than 2 inputs at the same time, you can get a small Behringer soundboard that has 4 to 8 mic inputs and run the board outputs to your Fostex.
#3
^+1

Also with a splitter your quality would probably decrease by alot. I'd definitley suggest getting a small behringer board or this Multimix USB mixer that I found today that has a $10 rebate. http://www.zzounds.com/item--ALEMULTIMIX8USB
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#4
Ah man...I wanted to keep this under 400.
Fender '72 Telecaster Deluxe Reissue -> Korg Pitchblack Tuner -> Boss PS-5 -> EHX Big Muff -> MXR EVH Phase 90 -> Menatone Pleasure Trem 5000 -> Line 6 Verbzilla -> MXR Carbon Copy -> Boss RC-2 -> Peavey Classic 50
#5
In the field of recording, 400$ is nothing....
not even $2,000 will get you a great studio...

For home recording though you can get firewire interfaces like the mackie or a USB interface like the line6 toneports

That USB mixer is a good price but I have yet to see any reviews on it or try it myself.
personally I would just go with the Mackie firewire interface if you are considering buying the USB mixer because its only $50 more and youll get better quality out of it all.