what would be the best converter($1500 and under) for a small project studio? any advice would be much appreciated?

Getting back to the original question, the a/d converters in your price range that are well respected are the Lucid AD2496 at around $750 and the Apogee Rosetta at around $1200. Personally I'd take a bit of ekko's advice and go with the Lucid a/d and spend the savings on mics and mic pre's. mmm Joe Meek mic pre's... talk about bang for the buck

The RME ADI-8 also fits into that price range.

take a look at the FOSTEX AC2596...great bang for the buck,sounds incredible too!

damn, my bad, i meant ac2496...and it's less than 1/2 of the price range you're looking at

Despite what Eric Lambert says, the Rosetta is by no means the hands-down/default winner for best A/D in your price range. Many, including myself, prefer the Lucid and the RME. In my experience, Apogee presumes they know what you want your converted to sound like, and they color the sound of their converters to help acheive that sound. This goes for their "bargain" line (the Rosetta) all the way to their more expensive models. The Lucid's are more true and uncolored. If you like the Apogee sound, and they do have a sound, then the Rosetta is your best purchase. If you prefer to get any color (assuming you want any) from your mics, preamps and EQ, then go with the Lucid. RME, Ive found, despite my problems with their management, are a nice blend of the two. Particularly their ADI-8 Pro. And I used all 3 brands of convertors, plus Crane Song units, on my last album, choosing each for different things. And none of the first 3 hold a candle to the Crange Song HEDD... But that's another story (and price range)!