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a New Sound interface gives you:
1. More inputs to run external audio and synths into your computer
2. Lower Latency
3. Better sound quality..... ?
If you don't use any hardware synths you can get by with a cheap soundcard like a USB Audiophile, or maybe even built in soundcard and some low latency drivers (I don't know about those, I've never used a Mac in my life... I hate those things ), but using built in sound isn't the best idea, get your self some Pro-sumer USB/Firewire soundcard as soon as possible.
Do you have a midi keyboard already?? If you don't then get yourself a USB midi keyboard, then you won't need a midi interface to connect it to the computer, just plug it straight into the usb port. If you already have a midi keyboard that is not a USB keyboard then you have to get yourself a midi interface.
About software, you'll probably want to get some VST synths and effects... or whatever plugin format you mac'ers use 
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