I have a Cannon GL-2 and I want to shoot and record piano recitals. I am thinking of getting a Rode nt4 and a beachtek DXA-6. Considering that this will cost me about $700 and I have limited funds, can anyone advise me wether I'm getting the best bang for my buck? Or, should I consider something else?

Usually what I've heard to record piano is to get
the mic(s) up close, like 1 to 3 feet away.
Were you planning on putting the NT4 on
your camera? On a mic stand near the piano?
Some people might even boom the mic inside the
piano if it's played with the cover on a long
stick.

I would highly recommend having a mic on a stand within 3-4 feet of the piano. It will turn out great.

"Mix" magazine had an complete article on techniques for recording piano performances in their June 2005 issue and it's available online at their website.

http://mixonline.com/mag/audio_killer_keys/index.html

Recommended reading ...

I would highly recommend having a mic on a stand within 3-4 feet of the piano. It will turn out great.

Amen. Using a standard XY/Blumlein, you'll get a good sound if you can't get straight into the piano shell. I wouldn't use an NT4. A Giant Squid (omni) stereo pair, a pair of AT 899's, or something similar would be better if stereo is important to you.
Pianos are not easy to get a great sound out of if you are not specifically recording the piano in a controlled environment. However, an XY setup, just a few feet back, usually will give a good piano sound while taking the room into account.

I used an Electrovoice RE-50 and it worked great.