Hey HelpJunkie,
If you have a computer, a decent soundcard, and some free hard drive space you shouldn't have to worry about working with more then one channel. Recording with a microphone would be too noisy. All you have to do is connect the line out of your synth to the line in on your sound card. Then set a track in Cakewalk to record the line in from your soundcard. This may take a little time to figure out, but it is well worth the effort because audio sequencing is way more powerful then midi sequencing. Oh and I use the E-MU APS sound card. Which has great audio quality, but I would not recommend it because it is old now and you can get a better soundcard for the money.
Steve
The Fuzzy Green Carpets
http://www.mp3.com/fuzzygreen [This message has been edited by FuzzyGreenCarpets (edited 02-20-2001).]