Just got my PCM-D50 today and, alarmed by all of the "reviews" that said it didn't work well with external mics, I couldn't wait to test it.
Plugging in a Sennheiser ME66/K6 (K6 is the "power" module that provides 48v by inserting a single AA battery )
and I found it to be excellent. This is in line with what another user who has a Rode NTG2 reports -- shotgun mics work well with the D50. Brad Linder's blog had a review quoted (not his) that said a Rode NTG1 did NOT work well with the Sony recorder. There are more than enough variables for everyone to doubt either his...or my...results.
The 0-20 switch on the side of the D50 appears to be just a "pad." Engaging it at 20 will prevent mics that are too hot from overmodulating. But it's just a pad. I haven't tested it enough to see whether that actually lowers the noise floor. It will certainly vary from mic to mic, I would think...with better quality mics performing just fine whether you have the pad engaged or not. It may just make it easier to control the volume with the dial.
You guys are more technical than I am. I'm just listening to the sound and watching the levels.
So, there's a field report. I will provide some sample files.
P.S. Plugged the ME66/K6 into the H2 and it was very good. Maybe not as good as the Sony. But maybe I'm buying expensive wine and thinking it tastes better.