I have recorded and mastered several tracks on my PC using quite a simple setup. If you want samples go to www.mp3.com/gasoline_baptism/
...My recording setup is as follows....
I run the guitar through my Korg Toneworks effects station. This multi-effects pedal has a headphone output, which allows it to be run directly into the Line-In port of the soundcard without and reduction in sound quality. Pretty much any pedal or amp with a headphone output will be able to transfer a clear sound through the sound card. Most Marshall amps have an emmulated line out that works great for this.
Another factor in quality is the choice of cables. Most people doing direct recording use a regular mono guitar cable that runs from the ouput of the pedal to the line in of the soundcard, I use a stereo standard PC audio cable with a 1/4" stereo adapter that plugs in at the effect pedal's output. THis allows you to record in stereo instead of mono.
For recording software, I use Sonic Foundry's Acid Pro 4. This program is excellent and quite simple to use. It has a large assortment of effects for post processing such as delay, reverb, Parametric and Graphic EQ's and more. Once you figure out how to use the program its quite simple to get a really big, heavy sound out of the guitar.
For the Drums i use Fruityloops Studio 4, an excellent drum sequencing program. The program itself does not come with very realistic drum samples so i downloaded some online. The best samples i have found are made by Manytone. If you search google for Manytone Drum wavs you should find them easily. They come in four packs for cymbals, snares, toms and kicks.
Unzip the samples into the fruityloops directory, they can be easily loaded into Fruityloops and sequenced. Fruityloops also has a playlist feature where you can string several drum patterns together to make an entire song, which can then be exported as a wav or mp3 into your recording software.