Check out the Akai EIE Pro.
http://www.sweetwater.com/store/detail/EIEPro
It's a very strong contender in the under $300 crowd.

Add to the above list the new Tascam interfaces. 
There is also Roland, Prosonus etc. 
 
Your list of needs is incomplete. 
There is a lot of choices.
Make a list of your requirements first.
.
What kind of connectivity do you require? and how many of each.
XLR, 1/4", or Combi jacks, RCA, line level, Instrument level ,MIDI, SPDIF, ADAT etc.
How many ins and outs do you think you'll need now and in the future.
Are they front panel or rear panel?
Balanced?
What do other say about the pre amps? Warning, this is subjective!
Are there peak level meters for each input?
Are there channel Insert jacks?
Are there separate controls for Monitor level and headphone level?
Is there a blend control for mixing Source with Computer ( DAW) ?
How many Headphone jacks?
Front/rear panel pad or line / Inst toggle swicthes or software driven?
Is it a metal box or cheap plastic? Is it light and portable or large and bulky, Rack mountable?
Does it have an on off switch?
Does it use Buss power or a power supply? Buss power can have issues with noise and Phantom power.
Does it have DSP effects built in?
Does it use a GUI mixer?
Can it be used as stand alone?
What are the Round Trip Latency (RTL) specs? Do you need low specs for real time processing?
Zero Latency monitoring is not the same as RTL. All interfaces have latency.
And most important of all , Does it have top notch drivers for your OS.
What is the word on support from the company?
Does it come with free software, An LE version of a DAW you would like to try?
Everyone will recommend the interface they have chosen, that doesn't mean it is the right one for you.
http://forum.dawbench.com...Performance-Data-Base/
page13

Because you have a drum machine you will want MIDI and rear panel line level inputs. 
I like to run my drum machine using midi sync and Sonar controls the tempo. 
I often will use this to get a song going and might record the audio output of the drum machine for a scratch track. 

Thank you all for the tips & Johnny v for the list. I will spend some time with it.

johnnyV
Are there separate controls for Monitor level and headphone level?

I find this one very important and wonder how some can live without it.
 

Paul P

johnnyV
Are there separate controls for Monitor level and headphone level?

 
I find this one very important and wonder how some can live without it.

 
I agree. I would have expected it to be standard for all decent interfaces. Sadly it isn't.

I keep the list as a word document and I'm always adding to it as more features are discovered by me, Like inserts, I wish my interface had inserts now. If anyone has more features I can add to the list please jump in. 

With usb3 and very few (if any??), specifically usb3 I/O's, and the stability of FW, plus a PCIe card for $70 or less and a Focusrite Saffire Pro 26 for $299 thru Feb (Sweetwater), I could go that way. Like JohnnyV, I have a Tascam us1641 and am thinking I'd like to move up in the world. LOL  Especially, now that I'm installing all my progs on my new i7 4ghz Win 8.1 16 (soon 32)gb DDR3 with 3 HDD (WD 1Tb for C, plus 2 Seagate 2Tb's for projects and sample library (I'm just finishing up SampleTank3).
 
If I double my budget for it, there's the RME Babyface (only 2 inputs+ADAT and I always wanted a FF800), SPL Crimson (6 with SPDIF -NOT expandable), and Audient id22 (which I think has 4 ins+ADAT).
 
A new one (for me anyway) is the Resident Audio T4 which is Thunderbolt, which I thought might have "landed" for us PC/Sonar users, by now.
 
Thanks for the list JohnnyV. I agree your criterion are really the best way to choose. I hate having the wires sticking out the front on my desk, but I may be redoing my whole room over, soon, as I just bought a WA76 and TB12.
 
Michael
 
ps I wish I knew how those RME setups worked for the HDSPe. Do those go with a MultiFace or what? I have some PCIe slots open, but am just starting to read about my options, there.