I've had mine since April '06, and I also give it a very positive recommendation. I'm also using it exactly as you'd be using it, just to record an S/PDIF signal via the coax input.
At this point in time, the only downside to the HD-P2 that I can see is that if you try to record more than 8 GB to a single card, the deck will freeze. (You can use cards larger than 8 GB, and it'll format them just fine. but it'll freeze when you hit 8 GB of recorded files). They are working on a firmware update to allow more than 8 GB of recording per card, but its seems as though it's not a priority for them, so who knows when (or if?) that firmware update will ever come to fruition.
That said, 8GB card are very affordable these days, and that will allow for 4 hours of 24/96 recording per card, which is plenty for me (and I would guess enough for most people).