Combination Chemotherapy and Thalidomide in Treating Patients With Stage I, Stage II, or Stage III Multiple Myeloma

DISEASE CHARACTERISTICS: * Newly diagnosed stage I, II, or III multiple myeloma (MM) * No refractory or relapsed MM PATIENT CHARACTERISTICS: Age * 18 and over Performance status * Karnofsky 60-100% Life expectancy * Not specified Hematopoietic * Not specified Hepatic * Bilirubin less than 1.5 mg/dL * AST less than 2.5 times upper limit of normal Renal * Not specified Other * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use 2 effective methods of contraception (including at least 1 highly active method) for at least 4 weeks before, during, and for at least 4 weeks after study participation * No active serious infections uncontrolled by antibiotics * No insufficient mental capacity that would preclude informed consent * No other medical condition or reason that would preclude study participation * Willing and able to comply with the FDA-mandated S.T.E.P.S program PRIOR CONCURRENT THERAPY: Biologic therapy * No prior thalidomide Chemotherapy * No more than 1 course of prior vincristine, doxorubicin, and dexamethasone Endocrine therapy * Not specified Radiotherapy * Not specified Surgery * Not specified Other * No concurrent alcohol consumption