I agree that you can keep it simple and get a good recording. My wife and I made a cd with fiddle, accordion and vocals using two Behringer condenser mics in an x pattern, into a mixer and then into an interface and a laptop. We used Audacity which is free shareware. Big room with high ceilings which helped.
If I did it again I would put an SM58 on the vocals to make sure that had enough presence.
used the same setup minus the behringers and audacity (used the audio technicas) and it worked really good. We used garage band! it sounded pretty darn good.