Well, I just got a Marantz
PMD-650 pro MD recorder...
http://www.marantzpro.com/Marantz/PMD650/index.htm
Click the link that says "image" to see it. The picture doesn't show up for some reason.
I love it!! It's rugged, easy to use, and sounds fantastic! It's not exactly compact and it eats batteries like popcorn, but that's no big deal with rechargeables.
It's got a lot of advantages over a consumer MD recorder.
XLR Microphone inputs
Phantom Power
DIGITAL OUT!!
Analog record level control
Bass rolloff switch
1/4" Headphone jack
Built-in mic and speaker in a pinch
Built like a tank! (it's designed for field reporters)
More...
When you monitor through the headphones, it passes through the A/D and D/A converters so what you hear through the phones is what goes on the disc. If it's clipping digitally, you'll hear it!
Another cool thing is that when you record in mono mode, it records a duplicate to the right channel that is 15db lower than the left channel, so if you clip you've got a backup!
As for the sound quality... The mic preamps are nice and quiet, and I wouldn't hesitate to use them in even the most critical applications.
It's got ATRAC v4.0, which is only a little downlevel from the latest v4.5. When people complain about the sound quality if MD,they're really complaining about ATRAC v1.0 that came out when MD was new. That really didn't sound all that great and was prone to compression artifacts. It soiled the reputation of MD for years to come.
With the latest versions of ATRAC, there's no way you're going to hear the difference between it and DAT.
Last drawback is that it's an expensive unit. Markertek has the best price on it for $1000. I got mine on Ebay for $930 though.
If you can afford it though, it's worth every penny!