Pretty interesting article, check it out and discuss:
How to Build an Incredible Sound Studio on the Cheap...
The following is a guest post from Carla Schroder, an instrumentalist, recording pro, and Linux wonk. She just finished The Book of Audacity, which officially gets released on Thursday (pre-order it from Amazon here). Audacity is a free, open source, cross-platform audio editor that allows anyone to transform their Windows, Mac, or Linux computer into a powerful recording studio.
This is chapter 2 of the book.