Dan-
Your recording rig isn't mentioned in your post or signature. What's your setup? Were you recording via the digital optical in? What bit rate? What CF card are you using? Were you using the internal battery or an external source? What firmware do you have loaded? The answers to these questions can help people respond to help you.
dB-
Core Sound Cardiods > 1/8" to 1/4" adapter > line-in setting (CSCs have a battery pack--battery power meter at half after 4 hours-fine).
16bit 44.1
Sandisc 2.0GB
Firmware 1.1.5 (latest beta)
I used this unit one week ago, with the 1/8" plug on mic in. The recording was intact, but peak level distortion made about half the recording unlistenable. Switched to 1/4" inputs with the adapter for this recording.
Basically, if you max out the recording time, you will lose the last wav file that was recorded. That seems to be what happened, and also seems that after scanning the forum, this experience is not unique (I believe jcrab had the same problem).
In terms of the level meters, this unit is basically incapable of indicating appropriate levels, so that a pre-amp > digital in > MT is the only way to guarantee levels will be listenable (not either microscopic on one hand or peak distorted on the other). Pretty hard to stealth with a pre-amp.
So for me, the MT has become the most expensive walkman I've ever purchased. Loaded some wav files onto the drive, packed the headphones, and now its a portable digital headset.