I'm currently using a set of low budget kit that works well enough for demos, but is a bit low-q for decent recording:
- Red5 Audio RV6 studio condenser with phantom power supply
- ZOOM MRS multitrack recorder
- Windows XP PC with Drumsite V1.3, nTrack Studio 4, and Guitar Pro 5
- Set of Behringer XM1800S vocal mics
- Laney LX120H head with a Behringer BG412 cab
- Nady Encore GT1 wireless guitar transmitter
- ZOOM 505II guitar multieffects unit
- Digitech Grunge distortion pedal
- PRS Tremonti SE with chrome pickup covers
- Squire Showmaster strat
- Unbranded 12 string acoustic with pickup
Thats all I can think of atm lol

if I think of anything else I will edit this post.
Anyone care to share their set up or recommend any other useful kit?