paulclaro
Anyway how would I go about recording and, basically balancing the sound coming from the mic and guitar at the same time. There is a button on the back that says Guitar/Line. In is for guitar and out if for Line. What position is this button supposed to be in for recording both?
That button only affects the 1/4" input. It adjusts the impedance to match your source.
Set it to the Guitar position.
To record both mic and guitar, you need to select the inputs in Sonar.
First, go to Options>Audio>Drivers, and make sure all of the M-Audio inputs are checked.
Then insert two audio tracks.
In the first, select Fast Track Microphone as the Input.
In the second, select Fast Track Guitar Input.
This will allow you to record each source to its own track.
Now arm both tracks.
Speak into the mic. Only the meter on track one should move.
Now strum your guitar. Only the meter on track two should move.
The Fast Track is sending these signals to SHS as mono, so be sure the track interleave is set to mono as well.
The MONO button has no bearing on the signal sent to SHS. It is only for direct monitoring, and affects the signal sent directly to the Fast Track Audio outputs(connected to your speakers)
hth