Help Needed - Multitrack recording on Powerbook Options

[JFracchia]

Hi,

I just joined this forum and am hoping to pick some brains.  

I have been doing home recordings for many years, but recently
have decided to go digital.  Here's what I'm working with:

• Wallstreet G3 Powerbook - souped up to 466mhz, 192mg/RAM
 20G/HD.

• Cubase 5.0

• Digigram VXPocket Audio Card

My non-computer hardware includes, several electric guitars,
a Roland JW-50 synth, and a Shure Beta 57A mic (arriving soon).

Here's where I'm getting a little bit stuck.  

•  I have started to test out the Audio card and am finding that
  the mic levels are too low.  I'm testing it with a very old Shure that has
  seen better days.  My guess is that I need a pre-amp to boost
  the levels, but am not 100% sure.  Anyone have any experience
  with this?

•  Does anyone know if Cubase 5.0 has a level meter for recording?
  If not, how do I visually monitor the input level?  

•  Is there a way to convert midi tracks into audio tracks in Cubebase?
  I know relatively nothing about midi and to date have recorded
  my keyboard parts as regular audio tracks.  My guess is that they
  would be cleaner (sonically) as Midi tracks if they could be
  converted to audio.  True?

Any help would be greatly appreciated.  I think I'm close to having
the home studio of my dreams, which will be a big step up from my
old Fostex (original) X-15 multitracker.  Although I have not recorded
live on my mac, I have done a significant amount of transferring and digitally
remixing my old 4 track recordings with success.

Best and thanks,

John