OK - a mixer will provide you with much more flexibility.
Mixers vary wildly in what inputs, outputs and functionality they provide you with and whether they provide stuff like FX loops. They will usually have some mic preamps in there - which is what you're after.
The way I see you using a mixer is plugging your keyboard into two audio channels at line level (assuming it is stereo), a mic from your guitar amp into another channel at mic level (usually using a 'trim' or gain control to adjust the level), and a vocal mic at mic level.
Often there is a switch on the mixer channel to go between line and mic level - sometimes you just turn the trim down for line stuff. It varies.
The M-Audio cards have jack outputs which would plug into your mixer, allowing you to use it as a master volume control, and giving you some nice routing options. Most people just plug 'em straight into their active speakers/amp though, and control volume in software or via the amp/active speakers.
Bear in mind that having a mixer will allow you to record many things on one audio track simultaniously. This cuts out your options for post-processing radically though. The M-Audio 2496 is a great card, but only allows you to record on two seperate tracks at once (plus MIDI).
The way you generally do this from your mixer is by usign the left and right outputs to go into the different inputs of the soudcard. Then anything you want on Track1 you pan hard left and anything on Track2 you pan hard right. They won't stay panned this way of course - once they are in your DAW software you can pan them any way you like
That's mixers in a nutshell for you I guess.
The soundcard + preamps solution is more simple IMO.
You get a soundcard (with as many inputs as tracks you wish to record simultaniously), and some discrete pre-amps. You could still use a 2496 if you only need to record two seperate tracks simultaniously.
Get as many pre-amps as mic tracks you need to record simultaniously if you get a Delta44 or 66, as it comes with a line-level break-out box.
The good thing about seperate pre-amps is that they sound much nicer than the generic ones you find in cheap mixers. When you get yourself a SM58 microphone (or similar, or better!) for vocals you will be glad you got seperate pre's.
Of course, it's possible to run a mixer *and* pre's in all sorts of combinations.
In truth, whatever you get out of these two sorts of set-ups will do the job for now.
I think a 2496 and one pre (or a cheap mixer, now that you know some of the pros and cons - bear in mind that, essentially you will just be using the mixer as one or two nasty mic pre's) might be a good starting point. This won't break the bank and will give you room to expand later on. It would give you an idea of what the whole business is about. It's really hard to explain in text - I think you have to play with audio gear for yourself to have a 'lightbulb moment'
Thinking about it, the Delta44 (or 66) is probably overkill for now - and besides, it doesn't have built in MIDI, whereas the 2496 does
Ramble over!
BTW - have a look at WikiPedia for any terminology you don't understand - it's pretty good for audio stuff like that - for instance, here's the page on preamplifiers:
http://en.wikipedia.org/wiki/Preamp
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