i play guitar, mostly hard rock, metal and alternative...i wanted a way i could play the guitar and also use vocals (for practice only), similar to what the Toneport can do...

so, is Toneport the only way to achieve this?? my budget would be of around $500 max...

are you looking to record?

or are you saying, that you are looking to amplify.

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Set up Questions? ...Q & A Thread

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For recording there are many products and software choices. Most interfaces start at around $200 if you want something fair. My suggestion is the Mackie Onyx Satellite if you have XP and the PreSonus Inspire 1394 if you have Vista.

As for mics, the SM58 is nice for general use but the 57 is a general use mic as well and great for micing guitar cabs.

For instruments, you can DI them into the interface and use software such as Amplitube to get amps and FX.

BTW, for recording gear and questions go on over to R&R and see the pinned posts.