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Recording hierarchy?

What do you think is the hierarchy when recording? I guess for some things it's obvious. But in terms of gear, I don't ever have a whole lot of money at one time, so I'm trying to figure out what would be the next best purchase. Sorry if there is a thread on this already... These are how I imagine it, though I don't really know at all. Would love to hear some opinions from the pros!

Non Computer System

Been recording our 3 piece (drums, bass, guitar) through a Behringer MX2004a Mixer on to a Stand Alone CD unit. Overall satisfied with the quality considering but would like to maximize it as it is inconsistent. I am open to any suggestions on improving the system for short $$ without converting to a computer system.