I've never heard a disco song that had actual drums in it. All disco songs are completely synthesized as far as I have ever heard. Also, The White Stripes are old news, tell Russell to get a real drum set. It sounds like he's pounding away at two pots and a cymbal.
It's the best we can do for now, neither of us really has the money for anything better. It may be the recording and not the actual drums though, I only have a stereo sound card so we can only have one mic on the drums and one on the keyboard when we record. Either way, I should be able to improve the sound with some EQ in the final mix.
The main issue with those drums is that the bass drum doesn't have enough... well, bass to it. The two bass guitars on that track should make up for that, though.
You need to record one track at a time and then overlay them. That's how you're supposed to do it, anyway. The only reason the big bands don't do it that way is because their studio equipment are more than capable of recording more than one input and mixing them live.
I definitely recommend getting a new drum set. I heard little bass with that (as you mentioned), but honestly the bass guitars didn't make up for it at all. For a demo, It's ok, but if you're seriously thinking of putting out an EP with this, don't.
Actually, it goes a bit beyond that... I've recorded with 5 or 6 bands over the years, and the more anal retentive of the sound engineers will record four separate tracks in four separate runs just to get the trap set. One run/track for the snare, kick, cymbals, and toms, respectively. Most just do the kick on the separate run, as it resonates through the set more than the others.
One of the groups' guitarist played a MIDI guitar, and fed each string to a separate track in the sequencer/controller on its way to the master mix.
As to the lack of bass from the set, it could well be the microphone. Condensers and vocal mics do a poor job of capturing anything below 150-250 cycles or so. Kick mics are engineered to perform well at these frequencies.
I personally use three mics to track my favorite doumbek and most of my djimbes, a kick mic on a kick stand below for the bass, a snare mic for the sharp, upper register notes, and a SM57 for the finger pats, slides, and rim taps.
Oh, and demos are designed to show what you can do - if any deficiencies in musicianship or work ethic are apparent in the recording, you may as well burn it as give it to someone in the business. This stuff is fine for friends, but don't distribute anything less than perfection unless you want to close doors early.