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Hi, looks like to me it does everything you need. There are quite a few Edirol interfaces out there, perhaps check the Edirol website/forum/FAQ first to make sure that the Vista drivers are ok.
I use a Line6 TonePort, it's pretty similar and comes with some additional amp-modelling software.
BTW - I don't think you should run the guitar into the amp and then the audio interface. You are meant to connect the guitar straight into the audio interface, then record on the PC/Mac. The audio interface has 1/4 inch and RCA outputs which you can use to connect up to the amplifier for monitoring. Or you could use headphones. Or proper active monitor speakers through the computer line-outs.
The other way is to play the guitar through the amp, mic up the amp and then run the microphone cable into the audio interface and record.
Cubase is a good tool, Fruity Loops as well although perhaps not that great for audio recording (correct me here if I am wrong). I use Sonar - similar to Cubase, different interface.
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