I use the H2 as another tool in the box rather than a "main recorder", and I don't use it for recording amplified music (that's not my thing) so I don't run into difficulties with excess levels.
It's a great point-and-shoot recorder, and in the context of ambience recording or recording acoustic music in a natural concert hall setting, the two stereo pairs are handy to have - that perhaps is its key feature. It's not good with external mics due to a mysterious amount of noise on the mic inputs, but its own mics give results which go beyond expectations in terms of its size and cost. If you can control the level of the incoming signal externally, it's also fine as a line level recorder.
Apart from casual uses like simply recording stuff off the radio using line-in, I use it as a stereo backup in conjunction with an R-44, and as an additional stereo / 4ch mic which doesn't need cabling - eg the other day I wanted to record the compere of a music competition together with audience ambience and put it on a stand in front to the compere's lectern in 2 x stereo mode, and integrated that into the music sections of the even in the DAW afterwards - thus avoiding the need to take up channels on the R-44 which I needed for music.
The first (and others) post as
http://www.2090.org/zoom/bbs/viewtopic.php?t=9745&start=0 is essential reading for prospective purchasers.
Topic: who uses a Zoom H2 as their main recorder? (Read 5531 times)