This may not be new to you but this is how I (on a limited space & money budget) record & produce finished tracks for bands with just one mic. First I setup the whole band in a room and put headphones on the drummer. Then, I just stick a mic anywhere close to the band in the room and setup a mono audio record track in SONAR with the mic as it's input. Next, I setup a track in SONAR with a kick playing quarter notes, a snare every other quarter note & a highhat playing eigth notes. I then turn up the volume loud in the drummers headphones and when he is ready he just starts playing the drumtrack for the song live for the rest of the members to play along with (This "click track" keeps the whole song in good 4/4 time and allows you to easily add some quantized midi tracks later). This produces a mono track of the entire song and all the players in SONAR. Then I re-record each part individually with that one mic while each player alone listens to the mono recording we just made and rerecords his part on a new audio track. When your done you have separate audio track for each instrument in time with each other and you can produce away in SONAR to your hearts content. You can achieve totally professional results if you take your time! - Shawn Lee Farrell 
 
Here is a track produced this way for a bunch of eleventh grade highschool students who had only been a band for one month, and original track called - "A Night to Remember"
 
http://www.trustmedia.tv/A_Night_to_Remember.mp3
 
here are some shots from the session:
 

 

 

 
Me in my studio in the back of a coffee shop on 2nd street in Hastings, MN!
 

 
I HOPE THIS WAS HELPFULL TO SOME OF YOU! - SHAWN

I produced an album for Wayne Mills in a similar fashion. We rented a studio in Kennesaw, Ga. The studio was very low budget so we had no drum room, no iso booths, etc. I decided to put the drums in the main room. Everyone else sat in the control room with me. They had bass, rhythm acoustic with a pickup, and lead guitarists. I ran them straight to the board with the lead player using my newly purchased POD 2.0. We sat up a vocal mic for Wayne and went about the business of cutting the tracks live.
This was when Adats were popular and I had 3 of them. The studio also had 3. This allowed me to concentrate on getting the drum tracks that we needed to build on. After the initial recording, a few overdubs were done in the studio using different amps and guitars.
What was interesting was I got the tapes back to my humble little rooms in Macon. Wayne and the band came over for the initial listening. There were a few spots that needed some touching up so I set up some amps and mics. The results were so good with the touch ups it was decided to scrap everything but the initial drum track and really spend some time doing some quality control on the initial guitar and vox tracks.
That first independent released album ended up getting Wayne a viable contract in Nashville. His genre was outlaw country. Sadly, Wayne was shot and killed by a club owner in Nashville last year. I will always have fond memories of that project that seemed so chaotic at the time.

Sidroe
 Sadly, Wayne was shot and killed by a club owner in Nashville last year. I will always have fond memories of that project that seemed so chaotic at the time.

From Wiki...
In the early hours of November 23, 2013 in Nashville, Tennessee, Mills was shot in the head by a bar owner allegedly over an argument involving Mills lighting up a cigarette in a no-smoking area.[6] He was rushed to a hospital but later died.
 
WTF?!

I'm a smoker who sometimes lights up in bars to this day...this hits close to home! -Shawn
 

 

 

 
-Shawn
 
 
 

Here are this kids listening for the first time! The local newspaper did a story about the project! -Shawn
 

 

Actually as I remember I only had eigth note highhats playing into the drummers ears so it didn't throwq him off his drum groove! - Shawn

Concerning Wayne, there was a more than regular amount of alcohol involved in that incident. It was not just over a cigarette. Still hard to talk about.
At any rate, great call on the project of yours. I guess since the school systems are cutting out the music education programs it will be up to people like us to get the next generation involved. Good luck, my friend! And if you can, try to cut back or quit smoking. I've lost 3 of my musician buddys in the last 2 years from COPD and lung cancer. Of course, it's easy for me to say because I have never even had a cig in my mouth my entire life! That secondary smoke all those years on clubs may rear it's angry head some day though. Take Care!

Thanks Sidroe, smoking is my #1 bad habit, don't know if I can quit but loosing weight would be better for me, to much time infront of the computer! -Shawn

I like the coffee sack wall treatments.