First of all, thank you everyone who answered my earlier questions about the PCM-M10 prior to my purchase. The answers and information I found here has been extremely helpful.
The machine is truly alot easier to manage over the MZ-RH1 minidisc. I had no problems with settings changing with the unit in my pocket while recording a show the other night.
Prior to the show, I tested accidental button pressing by putting the machine in record mode and then in a pocket. I tried all manner of pressing the pocket, moving the PCM-M10 around while pushing the outside of the pocket, etc. There were no problems (and the machine was not in "hold").
As for operating at the show, you folks were correct when you said that the unit looks so much like an iphone that it does not draw undo attention in a darkened, stealth environment. What I learned, and I need to review the documentation a bit more, is that with the original settings - once the unit is recording for awhile, the display goes dark. I need to find how to keep the display dark when not actively playing with the recorder but easily turn the backlight on for adjusting the levels. Just using the blinking LED's as a guide was not enough.
Along those same lines, I appreciate the hint that said a good starting level would be about 5 on the REC LEVEL depending on mics used. To be safe, I started around 4 and that was too low. With the mics I was using and the seating location, I ended up at about 6.7 and still needed a small audio boost in Audition.
To anyone reading this thread and thinking about getting one of these units - you'll be happy if you do.
Thanks again to the folks here for your input.