I have a running interest in home recording, though my iMac at home is not really setup to do it now. I have a pair of KRK RP5 monitors sitting in the closet, i just need to get an interface and some mics.
I am always interested in how others record guitar, and when i was down at Doug’s recording my cd we had some good discusions on home recording technique. Nowadays you can get some pretty good results using relatively cheap (by studio standards) gear.
One thing we talked about was Mid Side micing. Its a kind of wierd mic position, do to it you need a figure eight mic and a regular cardiod mic. This wikipedia link explains it better than i can.
So after our dicussion my buddy William Bajzek went home and tried it. William is a great irish musician but also plays excellent classical guitar. To my knowlege he used a CAD M179 as his figure eight mic, a Kel HM1 as the cardoid, and recorded into a Motu 8 Pre and Ableton Live software. I think its a great sound for less than a $1000 worth of gear, not counting the software. Here is his sound click page with the samples.
Out of all the home recordings i have heard him do this one sounds the best. I am definitly going to investigate this mic position once i get some gear.