Hello original poster:
I like Sony (Sonic Foundry)'s ACID and it is a useful way to get hold of drum, bass, keys and other instrument tracks for your music by working with loops as well as midi. But it doesn't allow a guitar player to moniter the guitar through VSTs during recording, or I don't think so (my version is not current). This might bug you since "dry" is not how guitarists intuitively like to record, but you could easily record through foot pedals or miked amp and set the monitors so you could hear it during recording. It's just how the VST's are implemented in ACID. There are also free loops of drums, bass, keys, and other sounds available for you on the internet. Try lots of different things and learn. I like free stuff when it works. With guitar and PC you will be interested in eliminating delay between when you play your guitar note and the time you hear the note through your moniter speakers. For this you will want a nice ASIO sound driver, which is software that should eliminate this (commonly called "latency") problem. A good free one is Tippach's ASIO4All. A good free multitrack audio recorder with VST capability is Kreatives' Krystal. I don't use loops or midi very much with Krystal, but I do use Krystal a lot. A smaller free VST/VSTi host that can do some recording is TobyBear's MiniHost. VST effects are audio processors that conform to basic guidelines invoked by Steinberg who makes Cubase. VSTi instruments are the same idea but instruments in and of themselves. Many, many developers make different kinds of VST processors and VSTi instruments, and quite a lot of them are distributed for free, though quite a lot are commercially sold or licensed just like other software. Many free VSTs suitable to simulate guitar amps and effects are linked at
http://www.kvraudio.com, which is a good source for free effects. For guitar I like the free VSTs Niko's Tubebaby, Simulanalog's Guitarsuite, Becker's Cortex, the several plugs offered by Fretted Synth, Budde's Feedbug, and others. A nice free chainer VST (think effects rack for VST's and VSTi's) is CTAF's MultiFXVST. This can expand your host to run an (CPU limited) infinite number of VST's and VSTi's. Newbie Brad