One of the best uses of home studio equipment that I’ve heard and seen recently is on YouTube in the “Shred” videos. Maybe a little outside the realm of this blog, but this certainly is creative music production if I’ve ever heard/seen it.
Essentially, the Shred videos are overdubbed guitar solos and other instruments that a guy (StSanders) synced up to a live video performance of a major artist (Clapton, Santana, Iron Maiden, etc.) The guitar solos match up with the videos so well and are absolutely hysterical, mainly because they’re so well put together (or not). Other instruments come in and out as they’re shown on the video…and those parts are equally hilarious.
Its ‘music geek’ stuff and your musician friends will probably laugh their heads off. However, non-musicians probably won’t appreciate it very much.
Here’s the Clapton Shreds video. Search for other Shred videos on YouTube’s site. I HIGHLY recommend the Santana shreds video as well! 
