Thinking of buying a M-Audio Fast Track USB 2 Computer Audio Interface or the like for input/recording.
http://www.amazon.com/M-Audio-Fast-Trac ... 680&sr=8-2

What I would like to do is NOT spend a whole lot of cash, so I figured there had to be a decent preamp software setup that had a decent allotment of effects such as overdrive/distortion, delay, chorus, flange, compression, etc...
Does anyone have experience with this sort of thing? Obviously I do not have a rack-mount (or otherwise) preamp, so it would be cool to be able to run everything via my PC.
Thanks!