I second Cliff on the monitors. That's the one area where going cheap will have a substantial effect on your enjoyment and ability to make good recordings. You've already got everything else you need to get started.
You can get all kinds of monitor recommendations here, but that's just our opinions. The best way to choose monitors is to head down to your local Guitar Center (or similar store) and compare them yourself in their studio room. Bring along a CD of music that is well-recorded and that you know *really* well. Let your ears be your guide.
My advice is to avoid monitors that shape the sound too much in one direction or another. My M-Audio BX-8 monitors, for example, are a bit on the trebly side, and I've had to learn how to mix around that, not to mention how to dial in sounds in the Axe-FX on that system. If I get big fat guitar sounds on my BX-8s, it's likely they might sound a bit dull on consumer speakers.
That said, my speakers do a wonderful job of highlighting every detail of the sound--both good and bad. And that's a very important thing to have from studio monitors. They aren't supposed to make you jump up and play air guitar, they are a tool to assist you making great recordings. And sometimes that level of detail can sound harsh, but it's necessary.
Also, realize that whatever you buy is going to be a compromise. Professional studios spend gazillions of dollars on both their monitoring systems and on acoustic treatments for the control room. Your little studio in the corner of the man cave isn't going to reach that level, but you should be able to get a sufficient monitoring setup for $1,000 or so.
You can get all kinds of monitor recommendations here, but that's just our opinions. The best way to choose monitors is to head down to your local Guitar Center (or similar store) and compare them yourself in their studio room. Bring along a CD of music that is well-recorded and that you know *really* well. Let your ears be your guide.
My advice is to avoid monitors that shape the sound too much in one direction or another. My M-Audio BX-8 monitors, for example, are a bit on the trebly side, and I've had to learn how to mix around that, not to mention how to dial in sounds in the Axe-FX on that system. If I get big fat guitar sounds on my BX-8s, it's likely they might sound a bit dull on consumer speakers.
That said, my speakers do a wonderful job of highlighting every detail of the sound--both good and bad. And that's a very important thing to have from studio monitors. They aren't supposed to make you jump up and play air guitar, they are a tool to assist you making great recordings. And sometimes that level of detail can sound harsh, but it's necessary.
Also, realize that whatever you buy is going to be a compromise. Professional studios spend gazillions of dollars on both their monitoring systems and on acoustic treatments for the control room. Your little studio in the corner of the man cave isn't going to reach that level, but you should be able to get a sufficient monitoring setup for $1,000 or so.