Thread Complete novice wants to record decent demo

I've bought the condensor mic & that's it. I've got an audio technica 5035 or something like that. I like Audio Technica as I use these mics live for singing. Perfect for my voice.

Now, I'm after a computer. I am thinking an iMac. Something around the 400mhz region with about 350mb ram -- maybe about 3 or 4 years old with OS 9.x. I want to use the free Pro Tools so osx is out. I only have a need for 8 tracks.

I have no idea about sound cards. It was my understanding that most macs had this type of hardware already installed?

I have a limited budget as I need to buy a new bass guitar too -- I didn't expect to be doing my own recording but circumstances are pushing me towards it. Now I'm quite excited by the prospect, though I have so much to learn.

I want to record a decent demo that highlights my vocals and songwriting. I expect that I will be working with audio to AIFF files and if needed I can convert these to MP3s using Itunes or whatever as I don't think you can do that in the free version of Pro Tools.

I'll be playing bass, keyboards and doing all the vocals myself. I will use my favourite guitarist and will have to hire a session drummer.

I will be recording a bass track, keyboard track, vocal track main, vocal track backing, guitar track and finally a drum track, whether it be a professionally programmed drum machine or taken into a studio for a live drummer recording. I want to keep it simple. My music style is sophisticated pop with jazz & blues leanings. Something along the lines of Dido -- although vocally we are very different (I come from a jazz singing background).

I guess what I'm after is some advice as to whether you think an iMac as I described above is suitable.

Basically, I am at the point where I am the only one I can rely on and if I do an ok job and start moving, it's better than waiting for the perfect situation that may never happen.