So I've been using the cheapest set-up possible. Just plugging my guitar cord straight into the mic input. Thinking about getting the line6 guitar port or something with some more quality. Anybody use anything they like or have anything to suggest?

I have this. It is reletively cheap and works great. Comes with Cubase software. Very fun and gives you lots of effects and options.

http://pro-audio.musiciansfriend.com/product/Alesis-MultiMix-8USB-Mixer-with-USB-and-DSP?sku=630166