I had a long response that got glitched,... damn computers!
Anyway, although almost everything and everyone has gone digital, for a small minority of home recordists, analog is still the way to go.
Recording on the 'puter is not for everyone, and even digital itself is not for everyone. Everyone has their own personal choices to make on gear, and how they'd like to record, even though the gear market has tilted one way, toward digital.
If a true hands-on machine is important, and if recording independent of the computer is important, then Portastudios are great for entry level users, as well as more experienced users. Some people simply don't want to record on a virtualized mixer environment on the 'puter, and that's okay.
4-track cassette is a simple, practical, easy to find removable media that sounds good if used to it's optimum level. Other of the current new digi-4-trackers require extensive load/dump sequences to the computer in order to archive songs properly, and the digital sound quality these digi-4-trackers deliver is of dubious merit [IMO].
In new 4-trackers, the 424mkIII is the topline Portastudio, and IMO it handily blows away the digi-4-trackers, mostly because of it's full functioned 6x2 input mixer, where the digi-4-trackers have two, maybe three inputs, and minimal input-side mixing capability.
The tape-based 4-tracker can still mix down to his 'puter if CDR copies of his mixes is what he wants as the end product.
Lots of the prime features of 'puter based DAW recording, such as whizbang editing and super-high track counts, are something that a lot of analog users can do without. Virtual tracks? Don't need 'em. Instantaneous RW/FF & Locate? Not an issue/don't need it, RW time's never been an issue to me. Fancy cut/paste editing? Don't need it, simple punch ins are enough for me.
Next Point: all those "control surfaces" designed for DAWs, although being 'hands-on' devices, they are still heavily dependent on the computer/software/videoscreen environment, with basic computer recording or heavy dependence on the computer for recording not being what some people want.
Some people don't want to record via their computers, and that's okay. Some people don't think DAW or the digi-4-trackers are "all that", and that's why they still have the 424mkIII,...
[at least for the time being, my gut feeling being that the 424mkIII has already been obsoleted by TASCAM mfg., and is still in the stores on a "use 'til gone" basis,... so get one new while you can].
If you're into NEW 4-trackers, the Portastudio 424mkIII can't be beaten, IMO.
If you're not against scoring used equipment, the Tascam 388 is a prime piece, a Portastudio-style reel 8-track. The 388 can often be had used for the price of a new 424mkIII, and that should be considered, since the 388 delivers much higher production value than the 424mkIII, and 1/4" tape on 7" reels is still available and inexpensive.
If you're really going to need high end production value, a 1/2" 8-track should be considered, [only available as used]. This would be f/i the Tascam 38, M30 mixer and DX-4D dbx units [2]. Or, f/i, the Tascam TSR-8 and M308 mixer.
In 8-tracks, the Tascam 388, 38/M30/DX4D, and TSR-8/M308 would easily blow away units such as the MR-8, which again, is a unit that's heavily dependent on load/dump sequences to the computer to archive songs.
In 4-track cassette Portastudios, as used equipment goes, the Tascam 246 is another topline design, being above the new 424mkIII in features.
Go for the 424mkIII if you prefer brand new equipment, or maybe some of these other unit's I've suggested, if used equipment's your bag,... with used equipment usually being your best deal.
Keep in mind that with used equipment, some older units may need minor maintenance such as belts, and that comes with the territory, so you have to buy into that idea at the outset. Beyond sometimes having minor maintenance hassles, IMO this older style equipment is well worth preserving, and still performs well, despite analog being out of favor with current audio design & manufacturing trends.
The huge movement toward digital recording's created a huge availability of used analog gear at all time low prices, that's worth checking out.
In new gear/4-trackers, the 424mkIII's still tops.
