Well, I've just done some tests at home and the answer is that there is no benefit in s/n ratio when using line-in instead of mic-in (on pcm-m10). I think it may be different on other devices. I've done two tests, each with music & silence parts. I normalized the music and compared the noise levels. For each test I kept my stereo on the same volume, so the test must be accurate.
part 1 (I chose these settings to match the sound levels while recording):
- line-in, BB, level 10 - noise: approx -55db
- mic-in, BB, level 3 - noise: approx -55db
Noise with line-in sounds a bit more annoing, though its level is same as with mic-in.
part 2:
-line-in, BB, level 5 - noise: approx -45db
-mic-in, BB, level 5 - noise: approx -57bd
note: these tests don't correspond with each other.
So I shall continue using mic-in for quiet/moderately loud shows.