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Oh can I take a shot at this one and them you can correct or add as you see fit SM?! This seems like a semi-pro question and not a pro question...
I've known a few people at the semi-pro level who have recorded albums for $5k, often at studios charging $25/hour. This is mostly guitar/bass/simple drums stuff, which people have recorded for a long time, and many people know how to do it. The result is "good enough" in that the results are accurate, pleasant, and convey the artist's songs sufficiently.
That same amount of money, invested in recording gear, would get you enough stuff to do some semi-pro recording yourself, provided you know what you're doing and depending on what you're trying to record. This is the sea change, because to record 72 tracks 30 years ago took a dedicated facility with massive equipment (huge 2" tape machines with large motors and remote automation!) and a full-time engineer keeping things running. Now 90% of that gear can be replaced with a $1k computer and $1k of software... as much as would be spent just on special recording tape, 30 years ago.
It's the "know what you're doing" part that seems to separate the pro from the semi-pro, and to take something from 90% done to 100% done, sonically broadcast-ready and marketable, etc. Furthermore there are sonic "fashions" which we minions are rarely even aware of, which go in and out of style as fast as women's shoes.
Take it SM
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