I'm currently in a Hardcore/Death Metal Band, and we wanna record one of our songs. I'm wanting to get into home recording so i can just do it myself. Basically, i want to know what would be a good affordable way of recording guitar and drums on my PC.

F.Y.I -
I have a good sound card, and a fast processor with plenty of Hard Drive Space and Ram.
Agile Septor Elite 7-String
ESP H-1007
ESP H-1001
Peavey 5150
Mesa Boogie Cab

Recording Gear -
PreSonus FireStudio Interface
CX5 Studio Monitors
Whats your budget?...you will need a few mics to record the drum kit ( at least 2 or 3 mics)

Best mics for the price it seems are the Shure SM57 microphone at around $100 each
image here

As for recording software all I can suggest is what i use...I use mixcraft 3 (doesnt support midi yet)
they have a free trial

Example of a basic classic rock song im working on that I recorded on mixcraft (not done yet)


You will also need an interface of some sort to connect guitar to computer...plus if your recording drums you will need something you can plug 2 or more mics in at the same time.
Go to this page to hear my original song recordings

Click Here