Ill-Green wrote:Depends on what type of production you're going for. But a good pair of monitors is a must.
With today's technology, you can just run the 500 with a DAW that provides all the plug-ins and VSTs you need. That would be good for now to get you started and understand what you really need. You don't want to spend money on gear that will just be put aside catching dust.
When you've got the full knowledge, then your ready to take a walk into the darkside.
I couldn't agree more. Get yourself a pair of studio monitors and start learning a DAW. Reaper is a great DAW to jump in on ...it's free to use for 30-days and $40 after the 30-day trail period. Another great thing about Reaper is the community...the heads over at Reaper forums are extremely helpful and knowledgeable and will help you get to the bottom of any questions you might have....but yeah I totally agree with Ill-Green, starting off with these two item will enable you to do almost anything you need to do and will help you avoid buy gear you don't need.
http://www.reaper.fm/Oh and you might also want to start looking a audio interface to run your Mpc into.
Something like this would be perfect for you
http://www.mpc-forums.com/viewtopic.php?f=11&t=143321