Hi Mark.

1) This is easy - the mixer you have plus the interface you mention will work to record in stereo into Audacity.

2) This is more complicated. Firstly you need a much more expensive interface which has multiple inputs - as many as the number of tracks you want to record simultaneously. Then you need a new mixer with direct outputs on each channel, so that these can be connected to the interface. Finally, you need software which will record several tracks at the same time. Something like Power Tracks is as good and cheap as anything. If you decide on this route, there are lots of people on the forum who will recommend interfaces.

ROG.

EDIT - Some interfaces will allow you to connect mics and instruments straight in without the mixer, but you lose the facilities which the mixer has, such as EQ and effects.

Last edited by ROG; 11/02/12 11:51 AM.