I'm wanting to record some practice stuff using a Rocksmith Realtone cable so I can share with some people over the internet and I need some kind of simulator for amplifier effects. What I want from this are: Free, includes these effects: Overdrive (Distortion), Reverb, Volume and Tone. Nothing else needs to be messed with or touched. As long as the distortion feels heavy and similar to what early Heavy Metal bands had (Black Sabbath for example) and some Thrash-ish distortion. Oh don't forget the fact that I want it to be a simple stand-alone program that I can open and start messing around for sounds and then if I record it, the software picks it up with those effects (Example: Audacity). (The graphics can be plain and not even reminding you of an amp to make it simple for me.) So what do you guys use for this kind of thing? Oh, I also don't want to edit stuff later on. Just do it live and on the spot.

For that purposes i would recommend Guitar Rig 4 or 5 which are really good ,but unfortunately not free ...however i think they have a fully functional demo period so give it a try.
Also it can be used VST plugin in Audacity or FL Studio or Reaper or whatever.Standalone recording in it is pain in the ass though.

Hehe.. I don't know how you even set up VST plugin in Audacity at all and can't figure it out by myself since only computer related stuff I can mess around with are game mods and art programs without feeling lost. :|

Just import it ... also learn technology if you wanna go cheap
like i said it can work on standalone and it doubles as amp/rack/effect board with ability to record loops and overdub ....

There is a free plugin called DirtHead, its the best ive found over quite sometime here is some recordings i did of Fear Factory & Slayer covers using it!

http://www.mediafire.com/listen/a7p0yjxwi769bcx/Self_Bias_Resistor_NM2.mp3

http://www.mediafire.com/listen/o1pil31dppsudej/Disciple_F4.mp3

http://www.mediafire.com/listen/ha6rj7h6jbqbn61/Eyes_of_the_Insane_NM.mp3