VocoPro is overpriced for the features it has, and the quality of the sound coming from the components is also lacking. From what I've heard there is also a reliability issue.
You need a live mixer with vocal effects(echo, delay, reverb, chorus). Something basic with eight channels won't cost you and arm and a leg. Use wired mics, and a single (or even a pair!!) amplified speaker... maybe a 12" JBL Eon speaker (I've been looking at those recently), and you could get by for less than a grand.
Here:
A nice inexpensive mixer, fine for home use, but with professinal features:
http://www.guitarcenter.com/Yamaha-MG82 ... 1172629.gc
Professional sound, great for a small venue, easily working for basement or home club setting:
http://www.guitarcenter.com/JBL-EON10-G ... 1152795.gc
A karaoke player on sale!!!
http://www.acekaraoke.com/iview-3000kr- ... layer.html
Cueing speed probably isn't important for home use, so this should do nicely.
A very nice sounding rugged mic that won't break the bank, grab a 2 or 3:
http://www.acekaraoke.com/hshumppg58.html
Don't forget a speaker stand, and some mic stands, and karaoke discs. This system is less than a grand and will provide YEARS of quality sound, play and enjoyment.
It wouldn't be all that bad to get a second speaker, and you could play in a fairly large size room... your now at around $1100 and you technically have a REAL professional karaoke system... and this system would make Vocopro crap sound like a 2 tin cans and string!
Here's a piece of equipment that also will add awesome sound quality to the overall system:
http://www.guitarcenter.com/BBE-482i-So ... 1125105.gc
When cuing music, the recording levels, base and soforth vary from recording to recording. EQs are practically useless for karaoke applications. The Maximizer will add crisp low contour and clean highs to both your music and vocals, and allow you to adjust in seconds from recording to recording. Now you're at $1200, and I'd say any one of us would enjoy singing on this.