Fancy mixer - nice pick. It's convenient having the audio interface built-in - BUT it can be kinda tricky to get all sorted out if you're new to the game.
Are you using Vista?
Even if you are not using Vista
check this link out - esp. the bottom of the page.
Ditch Vista ASAP if you plan on doing audio production - XP or Mac for serious work.
Also I'd suggest using a second PC / Ipod or whatever to beam this clips into your recordings. i.e. Mixer is hooked to recording machine and only records the show. Machine 2 or ipod plays back clips. Simply plug the playback machine outputs into the mixer and there ya go. I find it easier/more stable/reliable having 2 machines.
Good luck.