Good instrument/vocal mic? MAudio AV20 v/s Studio Pro 3 monitors?Reqd for home studio

Hey! So Iv just decided to setup a home studio. I plan to record my guitar and vocals both. My pc config is:-
Intel Quad Core 2.4 GHz.
2GB Ram
320GB HDD.

This is the setup I had in mind:
Shure SM58 mic - Rs 4,800 https://www.shure.com/ProAudio/Products/WiredMicrophones/us_pro_SM58-CN_content
M-Audio Fast Track Pro USB sound card - Rs 14,000 https://www.m-audio.com/products/en_us/FastTrackPro.html
M-Audio AV 20 monitors - Rs. 7,000 (is he overcharging me?)
Im not buying a mixer since I plan to do that with my pc.


Unfortunately, the AV 20 is out of stock and they recommend I go in for the M-Audio Studio Pro 3 https://www.zzounds.com/item--MDOSP3 . What do you guys think? Also, Im learning to play bansuri and was hoping to record that too. Will the SM58 to do justice to the bansuri? Can you recommend another mic which is good for instruments as well as vocals.
My total budget for this studio is about 25K.

 

a> Get a Shure SM57 instead....its better for instrument miking...although its almost the same mic as the SM58.. More info here: https://www.gearslutz.com/board/low-end-theory/98421-shure-sm57-sm58.html
b> Save money on the card...buy an M-Audio 2496...and put the extra money into a good pair of monitors.
c> Most low end monitors are crap. Sad but true. The low end M-audios are the worst of the bunch. The only decent sub-10k speakers for mixing are the smaller AudioEngines IMHO. Make do with some good headphones (Sony MDR7506) now and save up for better monitors in the 20-30k range....and think twice about mixing on monitors in an un-acoustically-treated room... some info here: https://www.soundonsound.com/sos/jan07/articles/mixingheadphones.htm

What preamps are you thinking of getting?

If its just a small project you are thinking of mixing...go to a small studio nearby and get it done...its much more convenient and cost effective.

If on the other hand you want to set up a small project studio where you will work from pretty often....save up some more money and have a lot of patience...

All the best!!