Suggestions On A Basic Recording Setup, which way to go? Options

[JPSpecial]

I am thinking about purchasing an Mbox to record audio. I'm fine with recording only two inputs at once, but am concerned about latency issues when recording over existing tracks. Sounds like a real drag. Is this a big issue? Was there some fix for this problem in Pro Tools LE 6.4?

Would you actually recommend any other setup for my simple recording needs? Primarily acoustic guitar, voice, bass, and some percussion. I'd like a relatively simple DAW and a reliable interface. Several people have recommended Logic Express, but others have said it is complicated to learn. I have messed around with Audacity and was pleased with its ease of use but am unsure about a compatible audio interface. My internal mic on the Imac sounded decent but certainly not of the quality one can get from a good condenser mic.

Your help is much appreciated.