Hey. Don't diss MDLP. I've gotten lots of great shows that would otherwise have had to be analog. I did quite a few a/b listening comparisons with SP and LP2- all digital transfers, mind you.. and quite frankly, I like the space and decay that LP2 gives over the old mode. Don't forget that LP2 is not just ATRAC with a lower bit-rate, it's an entirely different algorithm that was developed at least 8 years after the original ATRAC, with faster and better DSP's.
Yes, it's still compressed. But when you're dealing with compressed audio, the proof is in the listening.
That having been said, I won't be using it for anything but straight voice recording again. I love my JB3.