I'm using Cakewalk 2000.
It comes with on board synths so you can use their synths if your recording . they have a synth rack and I mostly use the DX synth.

You can download a midi file that you like and simply record over the tracks or keep them.
You can then record audio tracks for your guitar vocal ect.

It has built in sound effects and Amps for your guitar but I use my own sound prosesser.

You cam mix down to MP3 or wav when your finsihed so you have an excellent CD quailty finshed product which you can then burn to a cd.

The best place to buy is on Ebay. You will get it at half the price.

Band in a box is a good product but with cakewalk you are getting a digital studio that can do anything any studio can do.

It's easy enough to use once you get into it.

Just download somthing with loads of tracks and record over them.
You can start from scratch but why bother when someone else has done all the work for you.