I need some advice with somebody who has experience with a Mackie
CR1604 mixer (or similar).

I'm trying to set up a basic studio in my basement. I've got a Mackie
CR1604 and I'd like to get some advice on how to best use it. I want to
be able to record a track while playing back another from my computer.
So right now I'm running the output from the Solo/Phones to my
computer, the output from my computer into one of my regular channels,
and then I'm soloing the tracks I want to record. I made a cute diagram
of my current setup: http://166.70.244.96/diagram.gif

I doubt this is the best way to accomplish this, so I'd like to how
most people do it. I've never had experience in a professional
environment, so tell me how the professionals do it.

Thank you very much,
Trevor