So tonight I used the 722 (which has the current firmare) and about 20 minutes into the show, the meters, which were behaving perfectly, started only lighting up the last green LED and would flash the last 2 red leds, with none of the LEDs in between them. Definitely looked like it was clipping. I turned the levels back all the way and the number of green LEDs would get lesser and lesser, but the red ones at the top would still flash uncontrollably. I stopped recording, turned the unit off, turned it back on, same problem. I did the same thing and the next time it worked fined, and there were no visible problems. As soon as I got mine working though, Charles Fox had exactly the same problem with his. He is also running the current firmware. He fixed it by putting the V3 in front of it and running digi in. That being said I dont think the digi in is the problem as my problem was mic in and after a couple of cycles it went away, and also I ran a full show on sunday with no problems. Seems to be a software inconsistency somewhere, the fact that it isnt constant. The other similarity with Charles' and my 722s is we both got these units out of the last shipment.
In listening to it at home, the points where the lights were going haywire, there are pops all over the recording...intermittently out of both channels. Once the unit was rebooted the final time though everything sounds great.
I have posted to the SD users forum, link here:
http://www.sounddevicessupport.com/viewtopic.php?p=1396#1396I will report back with what they come back with