Is there any good, free, multi-channel recording software out there?

I am currently using Audacity for my audio needs but it does not allow for multi-channel recording. I want to record my mic on one channel while simultaneously recording whatever else is coming from my computer on another, live. I have downloaded a 30 day trial of Reaper and am going to see what it does but in this economy I would be silly not to find out if there was any decent freeware out there.