Vlar, if your serious, then it's all yours man, I would MUCH rather listen to it than actually perform in it. Ideas for you, rather the one biggest idea I have, is to figure out how you can upload it to Youtube, Stitcher, and Itunes, or at least make it downloadable for people on their mobile devices so that they can listen to it on the go. That is the largest venue for podcasts. It is definitely alright to ask for donations for the podcast while on it as well, just make sure to use those donations to better the podcast.
I would totally listen to this. I could advertise my events, I totally envision a monster truck announcer voice. SUNDAY SUNDAY SUNDAY!!
vlar i recommend audacity if you're looking for free software. otherwise and if you're willing to pay for software, then Sony ACID is my favorite for recording.