My recommendation: Sony MZ-N510CK NetMD Walkman/Recorder with Car Kit $149 (Amazon)
Microphone: Sony ECMMS907 Digital Recording Microphone $79 (Amazon)

Whether you want to record lectures, jam session, or the environmental acoustics. You'll love the results you get from Sony's MiniDisc recorders. Of course, most folks don't actually want to record stuff, just carry tunes around that they've legally acquired...and with the low cost of media and high speed data transfer (32x*) you can make as many favorite compilations as you like.

Any of the Sony MiniDisc recorders are a good buy, but I like the MZ-N510CK is because you get all those car accessories with it. I bought all mine separately and I paid more for less quality. You also get the usual MiniDisc plusses: long playtimes on a single "AA" battery, recharging of the battery in the unit and MP3 (and other) format compatibility. I've found that their claims of 50+ hours of playback on one battery are justified...and mind boggling. I use mine for interviews that I publish on the web and music recording on the go and love the sound.

Using a Sony ECMMS907 microphone (Amazon Price $72.99), I've gotten recordings of music that were just plain fantastic...but fantasy and reality aren't really the same thing. In order to get great sound out of little storage, they use an audio compression scheme, which I think is the precursor or the same as MP3. So you should know that while it’s great sound and very usable for broadcast or other formats, hard core audio engineers will sneer at it, just on principle. What they want you to show up with is a DAT tape…and those recorders cost a grand or more.

I do have a beef with MD recorders, though not big enough to keep from recommending them. Even though they include a PC Link for recording, it’s a one way trip…from your computer to the MD recorder. There is no way to upload the digital file to the pc except by playing it into an audio input at normal speed. OK, so you can do that...and it sounds fine…but each digital to audio conversion is another lost generation of sound quality. Unless you’re recording the philharmonic for audiophiles, it would be impossible to tell, but it's annoying to have to wait for the disc to play out.

Still, until removable memory recorders get decent sampling rate (they're really only good for low quality voice at this writing - See my Olympus DS-330 Review) Mini Disc is the way to go.

Specs: (from mfr website)

• Car Kit Accessories Supplied easily connects in vehicle for use in car
• Remote Control Supplied for easy access to advance tracks
• Bookmark Function lets you mark sections of disc for easy retrieval and playback of your favorite songs
• AC Adapter Supplied provides power from an outlet when a battery is not available
• Record MP3s or CDs at Up to 32X* Speed - Net MD products provide high speed transfer of your music from your PC directly to your Net MD recorder. The title/track information you create in the jukebox automatically will be transferred to the Net MD Recorder
• Ability to Record from Multiple Sources including PC, portable CD player, home CD unit and radio, making this a most versatile system
• Utilizes Affordable MD Media for Over 5 Hours of Music Storage on One 80 Minute Disc - Choose your recording level preference (LP2 or LP4). Store over 5 hours of music on one 80 minute disc using LP4 mode. MiniDiscs are re-recordable, scratch-resistant, low-cost high-capacity media
• Plays Back in ATRAC3™, Supports Multiple Internet Audio Formats (MP3, WMA, WAV)
• Up to 56 Hours Continuous Playback Using 1 "AA" Battery (LP4 Mode) is made possible by advanced technology that extends battery life beyond previous limits
• Internal Battery Compartment Holds 1 "AA" Type Battery so there is no need for a separate battery case
• MDLP™ Long Time Stereo Playback (up to 320 minutes/more than 5 hours in LP4 mode) of Music on One 80 Minute Disc plays back music recorded in LP2 mode for over 2 hours of music storage or in LP4 mode for over 5 hours of music storage
• Music Management Software Supplied to manage and store your digital music files (MP3s and your CDs), make custom playlists and transfer music directly to your Net MD player
• SonicStage™ Software and Net MD Burner Application Included - SonicStage is a music management application which enables you to rip, import and transfer your digital music files to the Net MD recorder. The Net MD simple burner application enables you to dub your CD tracks directly to your Net MD recorder using your CD-ROM drive. This gives you all the music you want without storing music on your hard drive
• Compatible with RealOne™ Player - RealOne is a music management system which lets you download, create playlists and transfer music to your Net MD
• Skip-Free** G-Protection™ Technology adds shock protection to the pick-up mechanism, thereby minimizing the loss of position. Skip-Free G-Protection technology continues to provide quick recovery from both horizontal and vertical shock
• "Easy Skip" Group/Folder Function allows for easy navigation between multiple file folders transferred from playlist
• Digital Sound Preset lets you recall sound quality settings you like for listening to different discs
• Multiple Playback Modes - Normal-all repeat, 1 track, 1 track repeat, shuffle, shuffle repeat, program, program repeat; Group-all repeat in a group, 1 track in a group, 1 track repeat in a group, shuffle in a group, shuffle repeat in a group, program 1 in a group, program repeat in a group; or lets you play through a MiniDisc from start to end
• Easy Pop-up Eject Mechanism makes it fast and easy to insert or remove MiniDiscs
• Remaining Recording/Playback and Battery Time Indicator on Unit LCD alerts you to the time left on the MiniDisc for additional recording or to conclude playback, as well as information about remaining battery life
• Automatic end search recording function informs you, with the press of a button, how much unrecorded time remains on a disc and begins additional recording from that point
• Format: Digital Audio MiniDisc System
• Sampling Frequency: 44.1 kHz
• Data Compression Method (Coding): ATRAC®/ATRAC3™ (Adaptive Transform AcousticCoding)
• Frequency Response: 20-20,000Hz +/-3dB
• Wow and Flutter: Unmeasurable
• Inputs: DC In 3V, USB (2.0 full speed), Optical Line In (stereo mini jack)
• Outputs: Headphones/Remote (stereo mini)
• Power Requirements: AC-ES305K AC Adapter (supplied), DCC-E230 Car Battery Cord(supplied), NH-7WMAA Rechargeable Battery (optional), "AA" Alkaline Battery x 1 (optional)
• Battery Life (approx.):
  SP (Normal Stereo): 1 x "AA" Alkaline - 10 hrs Record, 42 hrs Playback
  LP2 Mode:1 x "AA" Alkaline - 14 hrs Record, 48 hrs Playback
  LP4 Mode:1 x "AA" Alkaline - 18.5 hrs Record, 56 hrs Playback
• Color: Silver
• Supplied Accessories: AC-ES305K AC Power Adaptor, MDR-027LP Stereo Headphones, SonicStage™ ver 1.5 CD-Rom with Net MD Simple Burner Software, USB Cable, Car Cassette Adaptor, Car Remote Commander® Remote Control, Case with Velcro Tape, Plastic Tube
• Dimensions(WxHxD): 3- 1/4" x 1-1/8 x 3" (81.0 x 27.7 x 74.4mm)
• Weight: 3.6 oz (103g) without battery
• *When recording in LP4 mode - results vary based on PC specifications and does not include title transfer

**Reduces or eliminates skipping during many active uses