This is kinda cool...I'm almost doing the same thing as you are planning to do, but in Finland 
In my oppinion the time for small studios like this is over long ago, but I understad how you think when you want to offer "budget" bands to get the oppertunity to make a record. This is exactly as I thought a year ago...the problem is all the cheap equipment out there. One member in a "budget" band can simply get some recordingstuff and make their record at home and get somewhat decent demorecords made. Atleast here in Finland there just isn't the need for small studios anymore.
Anyways, this weekend I actually bought a "new" computor to my studio and it has the same processor as yours, i7 920. I overclocked it last night to 3GHz and it runs stable under stresstest, so I think it would be good enough for this kind of projects. I bought this cheap from a gamerguy who had put alot of effort into the computer when he got it, so it has a huge cooler with doubble 120mm fans so it stays very cool (max peak at 60'C under stresstest). It also had a 1000w powersupply (overkill for me) and a radeon 5870 graphic card. Now to my point: the thing he didn't care for was computer noise, and it almost sounded like a old fridge when he started it up. So when I got the computer I also stopped by another guy who had a different case fo sale. This was a Fractal design define r3 and my GOD what a difference! It's a case that has been built for silence, and when I installed everything I went with 2x120mm intake fans and one 120mm exhaust fan all connected to the fancontroller witch is intergrated with the case. I can't measure the db:s but it's nothing to talk about. The loudest noise from it is from the graphic card and the powersupply. I searched the net and found a review sayin 15db noise at 1m from the case...
The case might not have been something you've thought about so I just thought I'll write it here and recommend the fractal design case and to remember that graphic cards are loud and some power supplys.
Regards from Finland!
In my oppinion the time for small studios like this is over long ago, but I understad how you think when you want to offer "budget" bands to get the oppertunity to make a record. This is exactly as I thought a year ago...the problem is all the cheap equipment out there. One member in a "budget" band can simply get some recordingstuff and make their record at home and get somewhat decent demorecords made. Atleast here in Finland there just isn't the need for small studios anymore.
Anyways, this weekend I actually bought a "new" computor to my studio and it has the same processor as yours, i7 920. I overclocked it last night to 3GHz and it runs stable under stresstest, so I think it would be good enough for this kind of projects. I bought this cheap from a gamerguy who had put alot of effort into the computer when he got it, so it has a huge cooler with doubble 120mm fans so it stays very cool (max peak at 60'C under stresstest). It also had a 1000w powersupply (overkill for me) and a radeon 5870 graphic card. Now to my point: the thing he didn't care for was computer noise, and it almost sounded like a old fridge when he started it up. So when I got the computer I also stopped by another guy who had a different case fo sale. This was a Fractal design define r3 and my GOD what a difference! It's a case that has been built for silence, and when I installed everything I went with 2x120mm intake fans and one 120mm exhaust fan all connected to the fancontroller witch is intergrated with the case. I can't measure the db:s but it's nothing to talk about. The loudest noise from it is from the graphic card and the powersupply. I searched the net and found a review sayin 15db noise at 1m from the case...
The case might not have been something you've thought about so I just thought I'll write it here and recommend the fractal design case and to remember that graphic cards are loud and some power supplys.
Regards from Finland!
