The DR-05 seems to be the successor to the DR-07, with a few improvements in specs, and for a lot less cash.
Tascam describes the DR-05 as providing "premium sound." The built-in mic design is reportedly all new. The electronics are new, too.
It will be interesting to see if the DR-05's preamp is an improvement over the DR-1, DR-2d and DR-07, which are mediocre performers.
Tascam certainly has the under-$200 (street price) range covered. Models include
DR-03 ($80) and DR-08 ($125)
The most compact recorders, two AAA cells
DR-05 ($99), DR-07 (discontinued, $99)
mid size, two AA cells
DR-1 (discontinued, $150), GT-R1 ($195), DR-2d ($195)
standard size, AA cells