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Creating sound for Games, Cartoons. Equipment, Software

I want to try to mess around with sound for cartoons and games. What I am really interested in creating. Sound Fx. So I understand that a lot of sounds can be recorded live, but what if you want some blaster sound etc... What Software do I need for that? What keyboard? I was thinking to begin with M-audio Oxygen or E-mu Xboard... Any suggestions? Thank you.

Remuneration for video games music composing

As a composer for a major video games company, i'd like to exchange views and experiences with other musicians who have been exposed to the flat fee system vs royalties/rights system.
What is your experience, what's the rule, how do you manage that, with which results : is the "no rights with the highest fee" the most common final deal?
Thanx for sharing your experiences.