[737blues]

My computer has a pretty ordinary MB integrated sound card, so this is how I do it:

Instrument --> Line6Pod/Toneport/Guitar port (whichever you own) --> USB into your computer.

Then: Disable your computers sound card in Windows XP and use your Line6 device as your soundcard instead. (It's actually a pretty good quality 24 bit sound card in itself) You can also output sound directly from the line6 device to an amplifier/speaker combination, using it's RCA output and phones at the same, time using it's standard 3.5mm phone Jack. That way you can just turn your amp on/off depending upon whether you want to annoy your neighbours or not. The only problem I've found with this is that sometimes you might have to unplug/plug the USB cable to reboot it if some other sound-enabled program program has not 'released' the USB port after closing. You could of course, insert your guitar amp/stomp board/whatever in the chain but for just doing a bit of home recording or playing, I find the my guitar port and the 5.1 sound amp/speakers I use with my computer is plenty loud enough. There is detailed information on this under the support FAQ for your particular device at Line6, BTW. Make sure you download the latest drivers and software from Line6 BTW, the stuff on the supplied CD will probably be superseded and flaky.

The two most important tips for Audacity have already been made, I think; eg. (enable Play other tracks while recording new one and save often)

Fly135. Haven't noticed any latency at all. My computer is far from state of the art, but it's a reasonably quick AMD 3200 processor so I'd suspect that 800 MhzCPU of yours too.