3 or more years ago on the old Oade board an engineer from Zaxcom did just that. The discussion of desired features went on forever until it seemed that the only recorder that would even remotely meet our needs had unbelievable pie in the sky features and was probably completely unrealistic. Oddly enough, Zaxcom never did come out with a low cost recorder.
I think with the 722/744 and FR2/PMD671/R4 we've already gotten the high end and medium end 24-bit recorder market taken care of. Roughly equivalent to the HHB portadat and tascam DA-P1 markets covered. What we need is the new D8 -- a cheap, reliable way of writing 1's and 0's at 24 bit. Good meters, good battery life, and perhaps the ability to act as standalone mic pre and A/D, but nothing that anyone expecting high quality sound would expect to use as a standalone. I'm really hoping the Flash Tracker will meet this need, since as far as I can tell, the 24-bit world doesn't really have the equivalent of the D8 yet.