Right on, what type of mic do you use? Did you build your own panels? I was looking at some acoustic foam on ebay for recording guitars.
Good point about lyric writing. I tend to write lyrics apart from the music. The only problem with is you have to learn to compromise with yourself. I'll write what i think is an awesome line and then when i got to record it i can't fit it in ... just gotta re-write it and make it fit somethings.