Yes you can have playback at same time, as long as 'Full Duplex' is enabled in the audio options (it's been many years since that was an issue on most systems).

Is it a desktop or laptop? This will affect choices. Do you have a PCI slot available (if desktop)
Do you have a USB 2.0 port available if a laptop?
Need more info to recommend anything, but you will need a soundcard device to record into, and one that can accept a mic (unless you have a mixer laying around and I'm guessing you don't).

Yes, Realband is up to the task. I've recorded as many as 16 tracks at once doing 'live' recording.


Make your sound your own!
.. I do not work here, but the benefits are still awesome