Edirol's RolandED U8 USB digital studio comes bundled with either CubasisVST or Cakewalk 9 software and is a great entry-level audio/midi hard disk recording studio. The version I bought was the one with CubasisVST. Both versions include Roland's Virtual Sound Canvas Software giving access to 902 sounds and 26 drum sets! It is advisble to contact Edirol (details on their site http://www.edirol.co.uk) to find out if your USB chipset is compatible as I had a lot of problems with mine. What you get for your £350 (at time of writing) is the U8 unit which is a mixer and transport controller for the bundled software and also features an excellent onboard DSP unit which is relatively editable and, as I mentioned earlier, one of two Steinberg sequencer packages.
Dealing with the hardware first, the U8 is a stylish dark blue affair with 8 individual sliders and a master slider. There are inputs for mic, keyboard, guitar and midi and it is posible to mix your finished tracks down to cassette, DAT, minidisc or CD. There are controls for adjusting effects and their parameters and also transport controls that operate like those on a conventional tape recorder. In particular, there are four buttons labelled 'EZ recording' that allows anyone to get the most out of dozens of preset effects for guitar and voice.
I can only comment on the Cubasis VST software bundle and I must point out here that what you get is a special edition version that is specific to the U8. Consequently it is a much cut-down version of the software which doesn't allow you to use VST instruments or plug-ins. What you do get is adequately functional including full score printing for those of you who want sheet music. The programme is of the quality you would expect from Steinberg and makes mixing audio and midi tracks a pleasurable experience with excellent results.
At under £400 this has to be the best package for those who want to record music on a shoestring budget.
