its not really a problem but you do get a bit of lag. I do most of my recording using the mic jack on my laptop, but i will mute the speakers and monitor using headphones on the 404.

just make sure you dont have the volume up too high cause the mic jack is usually pretty sensitive

Yeah man, if you're not getting extra noise or anything like that then you'll be fine. You can always buy a usb audio interface later if you feel you need more clarity.