Cubase 4 and it's separate versions | Thread profile

Can someone give me a quick opinion on whether to buy the full version of Cubase 4 or settle for one on the cheaper versions? I want to record demos, using guitars/bass, drum machine (be that a hardware or software) and synth (hardware and software). The only real differences that struck me on the table available on the steinberg website was the difference in number of midi channels, ...

For rather simple user requirements like yours, the Essential version should be fine. It is always nice to have the bells and whistles, but scanning the feature comparison charts, there isn't anything that made my eyes bug out in terms of missing critical features. CT