Hey

I haven't posted in ages on this site, so if anyone recognises my name, or even if you dont, I hope you are all well!

I'm trying to get into home recording a bit more, and although I'm wanting to start small, I'm still confused with some bits and pieces, and would be very greatfull if you could help out.

My main aims are:

* To record from my bass/guitar into a decent computer programme - I have Line6 amp processors (for guitar and bass) already
* Use the programmes MIDI features as best I can to record drums/other instruments
* Be able to experience good sound quality music from MP3s, as well as DVDs
* Be able to listen to both my bass/guitar and music from iTunes at the same time for practising purposes, through speakers or headphones

I have a budget of 400 - 500, but I'm willing to stretch it a bit if its worth it. I had a look around and thought of buying this gear:

* M-Audio FireWire Solo to take my bass/guitar signal
* Pro Tools M-Powered 7.3 for recording
* M-Audio Oxygen 8 V2 MIDI controller
* Some studio monitors. Not sure which ones exactly, although I've
heard Alesis gear is suppose to be good for your money

The problems I'm facing/questions I have are:

* FireWire Solo does not have any MIDI inputs, but hopefully the Oxygen V8 can be used solely through USB. Is this right?
* The FireWire solo is labelled as an 'audio interface'. Does this mean it will do all the sound processing itself, or is it left to
the PC soundcard? Most PC soundcards aren't great (at least in my experience) so hopefully the FireWire will take care of it all and
do a good job
* Can the FireWire Solo power active studio monitors, or will I need some kind of pre-amp?
* FireWire Solo doesn't support 5.1, which might be a drawback when watching DVDs, but Im willing to let this one go.
* I couldn't find out if Pro Tools M Powered is compatible with the MIDI controller. Is it a safe bet to say they are as they're made
by the same company? Can any MIDI controller work with any recording software?
* If I did want to record drums, or do a live recording in the future could I plug a mixer into my Solo and use it? Obviously Ill have to mix it live and treat it as one channel coming in, but does the Solo have the
necessary inputs, and does a standard mixer have the necessary outputs to do this?
* If all this gear would suit my needs its a little over budget, but like I say, I'm willing to stretch the budget if necessary - Ill
just go hungry for a bit.

Sorry for the slightly-long windedness of this message, but hopefully it makes some sense.

Any and all help is greatly appreciated

-Rob