Hi. I'm really looking at using Guitar rig 3 from now on. Although since i'm only using an onboard soundcard, im gonna need a new one.

I only have ONE pci slot. Its not a pci-e so please dont recommend me one of those! :/

I want the card to have a 3.5mm mic input (for my desktop mic which i use for online gaming), and a 1/4 inch input for my guitar.

Obviously the usual speaker output for my desktop speakers. I'm not looking into getting studio monitors or anything.

Can i get something that will eliminate any latency then?

Here is my PC spec;

Pentium 4 - 2.66ghz
Ram - 1GB @ 333mhz speed (**** i know)
hmm ok. I guess a new PC is all there is for it.

My motherboard only allows ram to run at 333mhz. :/

Thanks anyway guys.
There's no need for a new PC, yours should record just fine. Look for an external audio interface like the Fast Track Pro or PreSonus Inspire. Continue your gaming etc on the soundcard you're using now, and plug in the audio interface when it's time to record.
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We did our album (upwards to 36 tracks of 24-bit audio plus FX as needed per song) on my computer.

1.7 Ghz Celeron
512 MB RAM (233?)

You need a proper interface that comes with proper ASIO drivers.

Want a ZERO latency solution? Some interfaces offer zero-latency routing solutions, or a mixer can come in VERY handy for zero latency monitoring.

Speaking of monitoring.... you have enough dough for a new PC? Get some proper monitors to mix on. You will be unhappy with your mixes you make on stereo speakers or PC speakers. Sure, maybe not as you play back on your own system, but they will NOT translate well to someone else's system. You'll get the age-old n00b question "My mixes sound awesome on my sytem, but when I burned a CD and played it back in my friend's car, it sounded like TOTAL ass! His stereo is awesome. Why does it sound so crappy?"

Recommend - Yorkville YSM-1's. Very affordable, and very usable.

Also.... there are still a lot of PCI interfaces on the market. Check M-Audio.

Could I get some more talent in the monitors, please?

I know it sounds crazy, but try to learn to inhale your voice. www.thebelcantotechnique.com

Chris is the king of relating music things to other objects in real life.