Hi everyone
I have been looking into some recording equipment. A Shure SM57 instrument mic, A mic stand . and the M-Audio mobile pre MKII. All together it costs a little more than $300. So is it really essential to get all the proper equipment ? What are the downsides to just using my macbook ? Let me know what you guys think .

This all looks like good gear! I'd say go for it and it's very reasonable in terms of price. You will get better sound should you record anything ( like a guitar cab or a person singing) using a Mic. If you go from an Amp line out to a computer line in, it usually sounds bad. If our computer has USB out and can act as an audio interface, that will do for a start. But learning to record guitar amps/cabs, for real is a valuable skill so I'd say play with emulation and recording actual amps.

Todd

Mixing or mastering will very rarely save a poor recording. So you really do need to spend the time, and money, to get the best possible recording that you can. The gear you list is a good start and as Todd says you should also spend some time finding out about good mic placement and other recording practices.