Concentrate your budget on acoustics, loudspeakers/amps, mics, preamps, and converters first (and in that order, if possible). Almost any software today can do digital audio right. For best results, use the DAW as a tape machine rather than as a plugin processor. If you aim your carefully selected mics in the right direction, you won't need much EQ. Ride/automate the faders for gain adjustment, if you have time, rather than just applying compressors automatically. If you're recording MIDI instruments only - don't. We need humanity to take back the airwaves. ( ;
P's,
_andrew