I mic’d up all of the instruments in our rehearsal room and recorded seven tracks at once in GarageBand. How did it come out? I don’t know yet! I need to listen back! AAAAAHHHRRGGGHH!!!!
Addendum: Five hours later, I have listened to the first four songs we played. The recording isn’t perfect. I had some trouble with my vocal mic, and the drums aren’t close mic’d so the kick drum is way to low… but otherwise? Holy crap, it doesn’t suck! WOOHOO!