You could use a monitor upgrad, those little guys just aren't going to cover enough of the frequency range to get a really accurate mix. You can never have enough sm57's and the Yamaha is something you could keep around for a long while. Other than that it's a decent little beginners set up. BTW if you do get better monitors you should also consider some room treatment, it's a must in just about every hobby facility.

yea room acoustics is like last on my list right now cause my parents won't let me hang the shit onto our basement walls (which blows). I do plan on upgrading the monitors.

Acoustics should be first on your list - without a decent space, everything else will be an exercise in futility. It only takes a single T-Pin or a tiny nail to hang a 2'x2' square of rigid glass on drywall. If the walls are concrete, run some fishing line down from ceiling level.

Post the dimensions of your space and get a little guidance from the folks who know on RO.

Well most of the recording I'm planning on doing until i get my own area is gonna be mobile. We are gonna be doing most of our recording at my guitarist house. I'm thinking about throughing the guitar amps in his small walk in closet (full of clothes) and seeing how that works out. The only thing that will be recorded at my house is the drums because the set at my guitarists house sounds like crap cause its needs all new heads and no one feels like paying for them.