Ok, so the Microtrack appears to work as advertised with the included 64Mb Kodak CF card. As and experiment, I bought a 256Mb Kodak card this morning and started a new test. MP3 192bits, 1/8" mic input. No hang, no hang, no hang after a few tries. Recorded for several minutes before I stopped. Then tried a few WAV files. Still good. Now, turn the unit off, then power back on. D'oh!
I get a "reading media" message on the LCD and that's the end. Hang.
Somethings about this unit (hardware, firmware) just is not ready to serve as a reliable portable recorder I think!