First off, I checked out the specs of the Asus Eee 1000HE (When I first saw "Eee", I began to think uh-oh... an Eee + Recording???), but it definitely seems capable enough to do recording, especially considering you're focused on recording just single tracks. I've heard the audio quality isn't all that pleasant to your ears, just a forewarning =P

You're welcome to use Audacity as a recording program, especially considering it's quite powerful for it's nonexistant price tag, but universities tend to use more commercialized software for their music recording students. I know one college that stuck exclusively to Sonar, and most others use Cubase, I haven't yet come across a college that uses Pro Tools yet... odd.

Anyway, to answer your question, yes! I think you're definitely capable of creating some really decent audio recordings (in terms of quality) using an 1000HE and a USB condenser mic!

thanks for that reply Realist. I think the audio playback from the Eee speakers is what is so terrible. I think the onboard sound card should be decent enough to produce fair quality on better speakers. At least that is my hope. I don't think I will be required to record any music, I am just going into the music dept. with an emphasis in guitar. Not any actual recording stuff per say. I just want to be able to record for personal reasons.