Hello,
First, select a software to build your system around. There are 4 famous choices:
a) Protools (includes hardware): very expensive in my opinion.
b) Logic: good but I heard it is difficult to use.
c) Sonar from cakewake: easy and reliable BUT does not have all the features and quality of cubase and Logic.
d) Cubase. This is what I use and it is the middle of everything
Second: Select a professional sound card to go with the already selected software. That is a whole topic of research. By the way, "soundblaster live" is NOT professional and if you are planning to do MORE than mere demo, skip all soundblaster products.
Third, A computer that is dedicated only to recording: buy the following:
a) the new P3 1200MHZ (no P4, and no celeron)
b) 512MEGS of RAM (256MEGS min)
c) OS: windows 98SE... no XP and no millenium
d) Two harddrives: I recommend IBM ATA100 7200RPM
e) Plexwriter cdwriter
Fourth, powered speakers.
Fifth, mixer
sixth, good quality mic
I hope this helps.