It seems you are right, Gunnar. I got the following answer from Sound Devices:
"The 702T, 744T, and 788T all handle time code in the same manner. When
recording with time code the recorders internal timecode generator is always
running and is available as an analog signal via the 5 pin LEMO connection.
When the file is written, the starting time code value is stamped into the
header information of the file. When the file is brought into a program that
can read the time code stamp, it usually can insert it at the appropriate
point on the time line. When the file is played back on the recorder the
recorders internal timecode generator is again triggered and SMPTE time code
is again present at the LEMO out. If one needed time code striped to an
audio track for say, transcription purposes, you could run a LEMO 5 to XLR
cable back around to an available input and route it to a track on the
recorder while recording audio on the others. Let me know if you have any
other questions.".
Now can someone tell me in what file system the Tascam HD-P2 records in? In the specs Tascam says it's a "Time-stamped Broadcast WAVE file format". That is BWAV.
From BBC I got the explanation that "Broadcast Wave Format File (BWF or BWAV) is a computer file format for audio, based on the Microsoft wave (.wav) file.".
So if BWAV is the same thing as BWF, why doesn't Tascam call the P2 files BWF?