One of my projects for this summer is to get my guitar (1995 Fender Standard Telecaster) and amplifier (1976 Fender Vibrolux Reverb) fixed and to do some home recording. I did a few recordings about 6 years ago on a Tascam 4 track tape recorder (you can find them on my UMD web page if you're interested, but bear in mind that I suck). However, audio production on Linux has progressed significantly in recent years---e.g., Ardour---so I figured I'd give it a whirl.
I despise compiling and configuring software by hand, so I was thrilled to discover the existence of Ubuntu Studio. The current release, 7.04, is essentially Feisty Fawn with a low-latency kernel and prebuilt binaries for all of the major audio/video/graphics applications, plus some cool new desktop themes. Through the magic of apt-get, it was a matter of three shell commands to upgrade my home machine to Ubuntu Studio. (Plus 400 MB of downloads through my DSL connection, of course.) The only hitch was breaking X because I didn't get the restricted binary kernel modules for the new kernel (nvidia drivers, alas). Once that was fixed I was in business. People talk about whether or not Linux is ready for the desktop. I think Ubuntu has not only answered this question with a resounding yes, but proven that it is a better desktop system than Windows many times over.
I haven't tried out Ardour yet, since I'm still waiting for my guitar and amp to come back from the shop, and also for the soundcard (M-Audio Delta 1010LT) I won on ebay to arrive. Thanks to Ubuntu and Ubuntu Studio, I'll be ready when they all arrive.