My setup is this
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COMPUTER
Home Built Pentium-D 3.40GHz PC with 4GB of RAM, 1TB HDD, DVD-RW Burner, and Rocketfish (Cheapo Closeout SoundBlaster Audigy) PCI Sound CArd with HARDWARE LOOPBACK
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Hardware LOOPBACK is important, and you will have to look for older PCI Sound Cards in order to use it, unless you want to invest in a Firewire or USB Recording Interface. The RIAA and MPAA Forced the sound card manufacturers and the O/S makers to remove "HArdware Loopback" and Hardware Input Monitoring to force people to stop "Pirating".....total B.S. I know. THe only other option is to spend some more dough on something like an mAudio card designed for recording.
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SOFTWARE
Reaper 64-bit, I use it because it has a great software metronome that does not mean recording some kind of crazy click track first.
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Chain of SOund
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GUITAR->Behringer V-AMP Pro w/ Behringer Virtualizer Pro 204P in the Stereo Effects Loop->Line-In on Roland Juno Di Synth->Headphone out on Roland to SOund Card Line-In->PC->Pair of old Radio Shack "Aviator" Headphones.