Recording live video over recorded tracks can be a bit of a pain. Camera mics rarely do bass any justice. IIRC the lightsnake wont immediately work with audacity because you have to set it as the default recording device. I would get the latest version of audacity beta. Once you install driver for it go to control panel, Sound Speech and audio devices, Sounds and audio devices, and click on the audio tab and select USB audio device as sound recording default device. Then open audacity click on edit at the top of the screen on the Audio A/O tab, the recording device can be set to MME: Microsoft Sound Mapper -input (might be different on your computer) or MME: USB Audio Device. Both work the same. There will also probably be some latency mine is -49.5 milliseconds but might be different on your computer. I had to figure it out with the metronome on my keyboard. After all of that you should should see a microphone with a level meter next to it. When you hold your mouse over it, it should say "input level meter - click to monitor input" when you click it your lightsnake lights should begin to blink and you should be able to monitor your input. You can audibly monitor your input overdub a recording but I would use a external monitor as the latency is bad enough to throw you off. Also to control the software input level double click on the speaker on your taskbar then click options, properties, adjust volume for recording, and set the mixer device as USB audio device, then OK now you shoud have a single slider on your screen that says capture. Audacity's monitor is pretty accurate so if your clipping the signal it will be present in the recording. If you move the slider all the way down and its still to loud click on advance and turn 1 AGC off. This SHOULD work i think.