I was actually looking at
http://www.radioshack.com/product/index.jsp?parentPage=search&summary=summary&cp=&productId=2102920&accessories=accessories&kw=mixer&techSpecs=techSpecs¤tTab=techSpecs&custRatings=custRatings&sr=1&features=features&origkw=mixer&support=support&tab=summary for the mixer, I know it doesn't have any effects, but it's cheap, well-reviewed, easy to use, and performs the basic function of mixing and controlling the separate inputs' volumes. For what I want to do, that should be good enough. What do you guys think?
I'm thinking
http://www.radioshack.com/product/index.jsp?parentPage=search&pg=6&summary=summary&cp=&accessories=accessories&productId=2123173&kw=microphone&techSpecs=techSpecs¤tTab=techSpecs&custRatings=custRatings&searchSort=TRUE&features=features&sr=1&y=10&retainProdsInSession=1&origkw=microphone&support=support&s=A-StorePrice-RSK&x=16&tab=summary for the mic. Once again, nothing spectacular, but for what I need, I'm thinking it should be adequate.
I'm confused about the USB converter. Why not just take the sound out of the line out or headphone jack?
Also, how important is a compressor? How much of a difference would it make, and would it be "important" for what I want to do or not really?
Even if it costs more than $70, if it's not too much more it would be worth it because then I would have some hardware to build upon. Then next year, instead of spending another $70, I could add to it by maybe buying a better speaker, something like
http://www.radioshack.com/product/index.jsp?productId=2103338&cp=&sr=1&origkw=pa+speaker&kw=pa+speaker&parentPage=search. Eventually, I could build a somewhat decent system instead of just throwing away money in rentals. It seems reasonable to me, and while I know the quality won't be great, I also know that people spend $50-200 on full karaoke systems like the ones from Wal-Mart and are satisfied, so I would think this would be even better, since the money would be spent on the audio and not on the monitor and karaoke part of those systems, since I have my computer for that. Then again, I'm still very new at this, and could be way off, which is why I'm here.
As for the computer side and the video, I've got that under control. I work with computers as a hobby and a part-time job (in college). I'll probably just use the laptop's display, but if we do it inside instead of outside it is easily hooked to the TV.
Thank you everyone for your replies, hopefully with your continued help I will be able to get something figured out.