Hey!
It all depends what YOU want. The size of room your dealing with...the type of gear you already have...How exp you are with recording already... How much power you need for plug-ins etc....And first and foremost...how much you want to $pend!!
There's a millionx10 options for recording these days as I'm sure your aware of. I know people that use both hardware recorders and Computer systems(although hardware D.a.w's ARE COMPUTERS TOO!)lol...just slower older ones with less ram....
If you use PC, I'd recommend my own set up to you. I use a custom built pc W/ 3.2 GHZ iNTEL CORE2DUO Processor w/4 gigs of ram. 1333 frontside Bus etc with over 2 TB of hard drive space split bettween external and onboard drives(ALWAYS HAVE BACKUPS OF YOUR BACKUPS!)...The machine is built for either heavy gaming(minus the fancy videocard)or for music...In my case it was built as my Studio PC. All it is used for is Music. No Internet, Porn, downloading..none of that.
For the Recording software I use the Digidesign 003 Rackmount version of Pro tools. I started with pro tools 6LE and still use 7.4LE(software) although its already at 8.4 or something. I haven't upgraded yet, but if you buy Pro tools now it will come with 8 or newer. Other than that i use a Dbx386 vacuum tube Pre-amp and a focusrite Octepre for outboard pre's witch everything runs through before hitting the 003 via S-DIF....I'm not knocking the 003 pre-amps as their decent, but the sound of real tubes Vs digital is a lot different if your picky about sound as i am.
You Don't have to go all out and get Pro tools HD either, you don't even need the 003 i have(LE) You can get a Basic Pro tools rig these days for $300? maybe $400? with the M-box family of mini hardware...You will just have less ins and less knobs and buttons to worry about. I started with the original m-box and it worked fine but got annoying when trying to record bigger projects cause you have to record everything in step...So not so fun for recording a band or something like that. But if your just recording beats and a rapper for example...that's the way to go IMO anyway.... for Pc you can also use Cubase, Cool Edit, Sonar, man theres lots of different recording software...
If your on a Mac, Id say try Logic out. Its a great program and some days makes me want to buy a mac. But I'm happy with my rig the way it is and changing Os's isn't one of my favorite things to do. Although you have the Protools option with Mac as well....
If your gonna go hardware just look around for something with sufficent ram...Like the Vs-2480 is dope. I started out using the Roland Vs-880(16 bit digital) and then the VS890(24 bit digital) and honestly i would never go back to those dinosaur machines after living in pro tools land..haha. But yea bigger more expensive digital recorders like the 2480 are sturdy and great peices of equipment...and you can hook a computer screen up to them so you dont have to go blind staring at the little lcd screen..lol...the r16 by zoom(i think) is a pretty cool digital recorder as well..its newer and i haven't actually used it but ive heard good things about it...
Anyway just hit up your local gear shop and tell them what you want to do and check some stuff out. Theres something for everyone in every price range and obviously the more you spend and the better the pre-amps, mics etc the better your sound will be. For mic's, Id recommend anything by neuman (TLM102 or 103)...Akg C214, C414, c1000, etc. Audio techniqua 4050... Rhode Ntk, Nt1a...Mics are a big thing in getting a good sound as well...those are all around the $500- $1500 range, you can get way better but these will all do the job...and do it well with the right Pre-amp paired...
I could type another 15 paragraphs about this topic but ill stop here...if you start looking and have any other questions feel to drop em here and ill answer anything the best I can...
you can check out my new album here...
http://ariesmusic.bandcamp.com/ <--90% of this material was recorded and mixed in my studio i typed about at the start of this post. Then Mastered by Deeskee in Los Angeles California. Check it out...
Good luck in your search and shopping.