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Digital recording consule or a upgraded sound card?

I am not sure whether or not to buy a nice sound card and run directly into my computer or buy a digital recorder. I will give you my equipment info and what it is exactly I am trying to accomplish.

P4 - 3.2 Processor
80 - gig hardrive
1 - GB or PC 3200/400 mhz DDR ram

Sound card - SoundMAX Digital Audio (came with computer)

As for software I have: