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We were talking last night about recording (from LP) onto a computer. Here are a couple links to what I was saying. If you don't care too much about quality, there is a cheap solution for the mac: Griffin's iMic ($40.) If you do care about sound, then the Tascam US122 is probably your best bet ($199.) Note that the Tascam also gives you 2 line outs, so it will make playing MP3s from your computer over your stereo sound much better than using the headphone jack.
Guy with too much time, a car, and a Mac. Best mod evar?
Okay, yeah, sure, Garageband is pretty fun. Like I need something else to keep me from getting anything done.
I'm not sure making it this easy for someone like me to make music is so great of an idea.