Here's my entry...
-Dell Latitude CPi laptop, cira 1999.
-NeoMagic MagicMedia 256 soundcard (i think)
-6.0 gig hard drive (mostly full)
-no CD-R drive (just CD)
-3.5" floppy drive (can only be installed when i remove the CD drive, or disconnect my printer)
-64Mb RAM
-sonic foundry ACID 2.0
-
Sound forge (effects, mastering)
-crappy $35 radio shack mic
-J-Station
-Klipsch ProMedia 2.1 speakers (these are actually pretty decent- oops

)
-freeware version of Fruityloops for percussion
-assorted adaptors, courtesy of radioshack
Can anyone top that? come on... make me feel better about myself.
i figure, if i can get tolerable results on this, i can get good results with anything.

(if anyone's dying to find out, i've got a few tracks i can encode to mp3 and pass around)
-Drew