If you want an example of what we can get out of that rig, listen to this: http://carryyourself.bandcamp.com/
It was mixed by the bassist using Cubase, and vocals and mastering were done with a friend, but everything else was done with what is listed above.
Running Windows XP on an HP Laptop, 2.3 ghz 6 gb ram. Line 6 POD UX-1 handles everything, POD Farm and Revalver for Guitars/Bass. Sennheiser MD421 for vocals/random oddities. I currently use Reaper and FL Studio XXL Producer, drums handled by Superior Drummer. My crappy singing handled by AutoTune and Melodyne;) Pretty budget setup, but all in all its amazing what you can do musically on a computer with a few million mouse clicks.