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A low cost but effective solution with room to grow would be an appropriate personal computer running a M-Audio Delta 1010LT audio interface, and using Audacity (freeware) as your recording/editing software.
A high end solution would be a Lynx Two audio interface and Nuendo recording/editing software.
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I am not a big fan of the PCI slot based I/O's. I much prefer the outboard USB or Fire wire solutions. There are several reasons, one is you don't have to open you computer to install them, and they tend to have more connection options. I also feel like the manufacturers are not limited by the space constraints of fitting into a PCI slot.
That being said there are some great hard ware software packages out there that I could recommend.
A great 4 in and 4 out budget unit that I own is the Lexicon Omega. It comes with cubase le, which is Nuendo's younger brother.
A middle of the road option would be A Fire Studio which would give you 8 ins and 8 outs (well 10 in if you count the stereo digital input). It come with cubase as well as a lot of additional plug-ins.
A more high end option would be a digi 003 which really does no more than than the fire studio, it just comes with protools le. The down side is you are locked into that combination. You can not use the software unless you have the hard ware plugged in, and that hard ware will only work with protools.
I use both the fire studio, and the omega with logic on my mac over the supplied cubase.
