Good for the price
I've had my 2488 MKII for a year now and am very pleased with my purchase. My only other studio-in-a-box is
a Fostex MR-8HD/CD. I bought the Tascam to increase my simultaneous inputs (for tracking my band).
The learning curve isn't too bad, and it seems that every time I think "wouldn't it be cool if this thing could...." I find out that it can. There are a lot of features I never even understood the point behind, until I started tracking lots of inputs.
In other words: A lot of thought has gone into providing you with all of the functionality you will need to produce your recordings.
While I think it's a great product for the money, it is worth mentioning that it's not a perfect unit. Here are some of my gripes:
It's very plastic, which sometimes makes it feel breakable, and sometimes just feels cheap. The cheapest feeling part is the jog wheel (which you will use a lot), but even just pressing the buttons, they feel 'cheap'.
Titling is a cool feature, where you can basically give names to each track, sections of the songs, song names, saved settings, etc... They did make it a bit easier by adding selectable words (a list which you can customized) which beats picking each letter with the jog wheel.... but you can't enter multiple words, so if you want to have one track called "Warren Guitar" and another track titled "Tim Guitar", the best you can do is pick the words "Warren" and "Tim" and then manually use the jog wheel to insert the "Guitar" letter by letter.
Part Editing is very nice, with all the possible combinations of editing techniques you should need. It is nice when I can take a couple measure from later in the track to cover up a mistake earlier in the track. But be aware that there is a minimum length that the part you want to edit must be. (don't know the length off the top of my head). So while you can take a couple second part and silence it (e.g. silencing vocal tracks when the artist isn't singing) you cannot silence the 0.2 second 'click' in between the singer's words when he accidentally bumped the mic stand.
Bottom line: All of my gripes are things that are easy enough to work around, mostly requiring only a little extra patience. And for the price, the features you get are excellent. If you want a recorder that can take you from tracking to mastering, this one will not disappoint you.
As far as I know (haven't looked into it much) the only big difference between the MKII and the NEO is the addition of some mastering effects. If that's true, you might be happy enough getting the MKII instead of the NEO. But I would suggest looking into all of the new features of the NEO and deciding for yourself if the extra money is worth it. I would imagine the NEO has driven down the price of the MKII a bit.
Also, FWIW, I saw on the back page of my new American Musical Supply catalog, TASCAM has a $100 rebate on NEOs. You might want to look up some info on that, and weigh that option as well.