I've done it before, running my guitar, into my Line6 PodXT, and from the pod, to the mac via usb. There's lots of software on the Mac/MS side to capture the signal....I used Audacity on my mac.
All my PC's are running Linux...and I'm currently trying to find good ways to get the guitar signal in on that...I believe I've found some drivers for using the Pod with Linux over usb...just gotta find time to experiment with it.
But, by using a Pod or some type of breakout box, I think M-Audio makes a bunch of firewire ones)...you can generally connect to your computer via firewire or USB. I think firewire had much less latency....
HTH,
cayenne
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