Lexicon's Lambda Studio is the ideal solution for recording up to 2 channels of audio into your desktop or laptop computer. USB Powered, the Lambda offers both XLR and ¼" inputs with mic pre-amps so you can connect mics or guitars directly to your PC. There are separate mic and line level input controls which offer a huge advantage over trying to use software controls to adjust levels. The Lamda also adds a 2 channel, 4-segment bargraph meter to monitor levels so you don't have to worry about trying to keeping your eye on levels in your software. The 1/8" headphone jack includes an amp for clarity while mixing.
The Lamda offers MIDI In and Out connectivity, along with TRS inserts to add outboard processors to either mic input channel. If you already own outboard gear, this can be a really useful way to integrate it into your digital studio.
In addition to the USB sound card, the Alpha studio includes Cubase LE so you can start recording right away. To make their bundle even more attractive (and useful for small studios), the Lexicon Pantheon VST reverb plug-in is included.