What do you want to accomplish?

How many instruments are you recording, what kind of music (solo, band, choral, orchestra etc)?

What's your setup so far, and what are you aiming to get to? A fully-fledged studio where you can record anything to high quality, or a portable rig to let you record to good quality in your bedroom or at school or whatever?
I have the 8 track version. I found it to be fantastic once I figured out the best way to record.
When altitude dropping, my ears started popping. One more red nightmare...
I want to do at least 4 mics on drums, record a bass, and 2 guitars and 3 vocals.
I'm not exactly sure what to get but that seems to have me covered. I am very open to suggestions on other products. It will be used in my basement.
Right now i have a tascam 4 track cassette recorder i need an upgrade bad.
I may be moving the tracks to my computer for editing but i want to mess around with it first to see.
suggestions would be very nice my budget is 500 i really want a 8 or 16 track im just not sure.