Originally posted by Jeztastic USB 1.1 is fine if you only need a couple of inputs. I have an M-Audio Duo. 2 inputs, 2 outputs, no problems. If you are just recording 1 or 2 things at a time, it's fine.
Regarding this... my Tascam only has two inputs, well it has six actually, but you are restricted to using two input sources at once. To get around this we use a four track or two as mixers to get drums, guitars & vocals down to two tracks and record live practices. It's not pretty, but it works and costs very little.