OK, if you are running ASIO mode, you probably want to change the Record Bit Depth in Preferences > File > Audio Data to 24.
 
While you are tweaking things change the Prepare Using nnn Millisecond Buffers from 250 to 500 in Preferences > MIDI > Playback and Recording.

Now you're off so I'm sure there will be a bunch more questions to follow, don't hesitate to post them. Probably best to go experiment for a bit and find out where you get stuck. Don't worry, once you get past a few basics the general workflow will become familiar and you can ignore more complicated parts of the program until you need them.

"you can ignore more complicated parts of the program until you need them." 
 
Ahh, but that's the beauty of Home Studio   ,, it's not really complicated at all. That's why it's the best version to cut your teeth on. Then one could decide if they need the complicated parts and upgrade. 

I may be off base here, but Truman, in your second post you wrote: "I was surprised to find that I couldn't hear any sound on the piano keys (left of screen) and when I entered some notes and tried to play it back, no sound again."
 
Is this (in bold above) the keyboard that is on the left side of the Piano Roll View? If this is the case, I don't think clicking on those keys produce any sound. But if you click on an entered note in the PRV, yes you should get sound.
 
So if the above suggestions from the forum helped you get sound out of your system great!. Just don't expect the PRV 'keys' to make any sound. 
 
 
 

Yes, I just finished my first base line track.  It works just like my old one. I'm remembering a lot.  I did discover that it won't save to an mp3 without an encoder. So I saved it as a .wav file. Then I downloaded Format Factory and processed my .wav file to a .mp3. Voila didn't need to buy an encoder.  

Thanks Tunerman but I wasn't getting any sound from either.  However the issue is solved for now.  By choosing a softsynth from the Insert menu I was able to choose an instrument track. That did the trick.  I'll be in touch if I have any more questions.  This is a very helpful thread.
 

Glad you got it sorted. Lots of knowledge in the forum and very willing members to help. Much more than I can...
 
Your new motto may be, as the Terminator said: "I'll be back."    <grin>
 

Yea and then I inadvertantly deleted the file and now I have to start all over again.  Doh !

Cool! Glad you're back to making music.

Not sure it I asked this but how do you get rid of latency? When I click on the sound button I get a delay when I speak of sing into the track.