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Does anyone have recommendations (pros and cons) of each system (+ mics) for field/live recording?

I'd add to the previous reply that it might be worth splurging on one of the just-introduced Sony portable recorders, as they're the first (?) from Sony that allow you to adjust recording levels *while it's recording*. That's right: earlier Sony models (like mine) required you to pause/stop in order to reduce levels if you're too hot. This could be major pain if you're using it for bootlegging (not a big deal for me). I think there's another manufacturer (Aiwa? not sure) who's had levels-on-the-fly for longer than Sony, too...

both have advantages. the only thing that I don't like about MD is the 80 minute record limit.

I'm sure the poster knows this, but I'd like to point out that you *can* record up to 2 or 4 hours on a MD by dialing up the compression. Not great for sound quality, but *all* MD recordings are somewhat compressed, anyway, something it took me a while to get over when I was considering a purchase. JG