Editing my previous review below, I still like this recorder (and now it's way less bucks than when I bought it), but, I recently used it to record a live performance of my friend's band and the results were not good. Even with the input set to the low level, with the TR-08 on a table 40 feet back from the nearest speaker in a medium-sized venue that wasn't particularly loud, there was considerable distortion -- much more than from the video cameras I had set up, and I don't get that at all.
This thing is great for quieter recording -- several people playing instruments in a small room, you and a guitar, a dinner conversation, a talk with your boss who's telling you there's been some cutbacks -- that kind of thing. But not live rock-type concert recordings. And hand-holding it is a noisy nightmare; don't even try.
I guess if I were really serious about this stuff I'd invest in the Zoom H4n, which looks really, really cool.
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This is my first digital recorder, so I can't fairly compare it to others on the market, but for what it is, I am very happy with it. The sound quality is excellent, and the microphones are pretty decent. Very small and light. Recording quality goes up to 24-bit, 96kHz, although I can't imagine why I'd need that; I don't have an audio application that will work with files of that quality. But, you can select from various MP3 and PCM qualities.
A couple of things though. First, the new lithium batteries cannot be used -- only alkalines and rechargeable NiHM batteries. I haven't done an exhaustive test, but it seems that the AAA alkalines last less than an hour. There is no power adapter available, although the USB port and supplied cable can be used to provide bus power from either a computer or one of those little USB power adapters that plug in an outlet.
Second, the unit is likely to only work with the tested microSDHC cards listed on the Tascam Web site. It comes with a 2GB card but, depending on your needs, you might want more storage. Check the list first. Also, although I installed an 8GB card, the "time remaining" still shows what it would be for a 2GB card. Not sure if that's a problem yet.
Third, while it's nice to have the microphones that rotate out to provide wider stereo separation when recording, they feel a little delicate. In the wrong situation, I can see them breaking off.
Otherwise, nice device, great recording quality, some useful features that may not ever be needed...and a pretty sweet price.