I guess this was kind of a loaded question, with little information about my first proposal. Note the equipment listed thusly, and realize I am currently adding quite a bit of gear still.
What I'm looking at currently is the Pelican 1510. Interior dimentions of 19.75" x 11.00" x 7.60". I can build an insert starting with 4" thick piece of polyethylene foam sheet 10" X 11". In this piece, I can create cutouts all the way through for each of the 12 recorders, then cap one side by gluing 1/2" thick polyethylene foam. (Bottom) The cutouts will have a minimum 3/4" between recorders, (for rigidity) and 3/8"-1/2" minimum thickness against the ouside facing sides. This section will house 12 recorders.
Building into the area of the case left over, which I planned on leaving
above the recorders, I was thinking of continueing to use the 1/2" material facing the outside at the bottom of the cavity, and building out the sides in 1". (To help support the "recorder section.")
A drop-in piece of foam would take up part of the remaining height, but should be thin enough to accomidate things in the lid organizer and perhaps some other last minute loose items. There's about 3" left on top if I use a 1/2" foam drop-in sheet on top of the recorders.
Included here is a picture of a rough scale scetch of what I propose, and a link to the case in question.
The Sony PCM-M10 is a little tall at 4.5", to fit the 2.5" X 1.75" X 4" holes I'm considering. But IF I start adding M-10's, I can always laminate another 1/2" thick piece on top. I'm not sure I'm not going to fill this case out with 09's. (Keep in mind I record lecture material, sometimes as many as 7 or more sessions simultaniously. I insist on 100% redundancy in each room. R-09's should be dropping in price pretty quick with the M-10 out.) This case definately is designed to suit that situation while, (hopefully) accomidating all of my

gear as well. I don't want to build in obsolecence, if you know what I mean.

Take a look at what I've got so far and please, do not hesitate to offer better solutions if you can!
@NOLAfishwater - I love fish too. I also love the idea of a LowePro Nova 5 when traveling light. I'ma check it out!

{edit} Eh, missed out on the LowePro bag. It's ok though, I'd like to focus on the task at hand anyhow, as it'll probably leave me at less than $zero again. lol Really though, thank you for the heads up. That was a pretty nice deal.
-JT
http://www.pelican.com/cases_detail_specs.php?Case=1510