Yep. If you need to use a program that's free then use Reaper. You are torturing yourself.
I'm not fully sure of your setup but I can record both wet and dry tracks (multi). Soundcard is really important too. There's no way I could record properly without hearing my effects. It's impossible to get into a groove or mood playing say a heavy rock song with a dry no effects guitar.
If you really want to do this as a hobby then you really have to spend a couple of bucks improving your equipment. Good programs like Sonar etc. are the cats meow and proper sound cards with good A/D converters are a must.
My best investment so far was a
good guitar, my
PODx3 for Direct input, an
E-mu 1212m pci sound card with
'Mastering grade 24-bit/192kHz converters - the same A/D converters used in Digidesign's flagship ProTools HD 192 I/O Interface delivering an amazing 120dB signal-to-noise ratio' and a
good computer. The programs out there is choice. Sonar, Acid, Cubase, Protools, Reaper, are all good.
The soundcard made the biggest difference in my recording. Multi tracking, wet & dry, 24 bit and great converters.
Anyways I digress. Ya, your torturing yourself.
Dave