[golot7]

I will have total control over Panning for all the mics, each channel has a Pan knob.

That is the problem - I would need to record something, then go and listen to it, hear what there is to fix - then change the setting I wanted - record again - listen to it again and then change whats wrong - this is a long and hard proccess... But this is what I have...

About EQing - how should I EQ? how can I judge what there is to EQ, it will be very hard to distict which mic needs EQ because I would only listen to the whole mix - overheads and all included...

I read many "guides" and stuff on recording drums, they seem to make alot of changes on each channel on the computer - add different reverb, different compression, and other effects. I won't be able to do it in a setup like this! Would that make my recording inferior to a recording with many channels? or is it just a matter of control over the sound? (which is some cases more control=better sound)