Pros: Some features are: 256 MB (512 and 1 G are available); built-in stereo mikes; 3 levels of quality (It records in .wma only- no wave recording capability) so I use the best setting, which runs just over 17 hours mono, 8.5 stereo); functions that help when transcribing recordings (like slow and fast playback without pitch-change, instant 1 or 2 second repeat, and looping a section of sound); adequate mike sensitivity for most uses, and a jack for better external condenser mikes (mono or stereo, to which it supplies a couple volts); graphic record-level bars on the LCD; ability to play non-copyprotected MP3 or WMA files from a computer (USB-2 interface); built in speaker (of course, use headphones for better quality/stereo); and more- but that is why the manual is thick (see a 5 MB PDF of it at the Olympus website).

Cons: Some negatives are: the tiny size, which means terrible mike isolation from the case (it picks up wind-noise and every touch or rub); the need to sometimes operate it by fingernail (WHY do they design for a child's fingers when the market is office- workers?); and a recording hisssss level that limits how far the playback volume can be cranked to hear quiet sounds. The internal microphone(s) are not well suited to making quality clandestine recordings in quiet places (though it is surprising how much recording in stereo helps), but either mono or stereo will nicely capture lectures for your own use, and if you dont mind noticable swirlies, the 2nd quality level (mono only) produces a crisp-sounding smaller file. The lowest quality setting works for voice recording, but sounds muffled and generally wretched.

Overall Review: Fortunately, when recording for quality with a decent external mike (or from a wired audio source), the Automatic Gain Control reduces the hiss to unnoticable while it levels the recording volume. With a good external mike, the recorder misses _nothing_. The AGC is timed to recover quickly after loud sounds so that no words are lost, but a slower option would have been nice because there are situations when listening to the tight compression is somewhat wearying. Selecting `dictation' instead of the higher `conference' mike sensitivity helps- and reduces the internal hiss though I suspect most users wont notice or care (especially after depending on a pocket-sized cassette recorder). There is no line-level input jack (or `line' option on the mike jack- a feature some other recorders have), so a stereo attenuating jumper cable (line-to-mike level) is necessary to record the output of a tuner or tape player without distortion. It'

Pros: This player has an unlisted feature that is wonderful: Variable playback speed (0.5 to 1.3 normal speed)

Cons: As other reviewers have remarked, the interface is confusing, with different buttons or steps required for only slightly different operations. One wonders who designs these things. Downloading the manual saves time. The microphone sensitivity is poor.

Overall Review: I am sorry this item is out of stock because I wanted another. The variable speed playback overcomes all other objections.