good call on the MZ-R900, Zoson. I wish i could have gotten to this thread earlier.
the MZ-R900 has excellent battery life and MDLP (MD Long Play, up to 4X 74min., about 5 hours/MD). but realisticaly only 2X is good for music, which means you can fit about 150 minutes/MD, which is great. I have one myself and I love it.
I have been a longtime user of MD and just cannot justify those silly low-capacity high memory stick prices low music quality MP3 players. I would one of those new Cd MP3 players, or those HD players, but they are just too huge. The aesthetic factor of having a nice MD player weighs much more.
i would like to dispute some claims about the MT-77...first of all that it does NOT have a USB cradle. it has a CHARGING cradle. the USB connecton (which allows for digital transfer and labeling of titles) costs an extra $180 US over the $350 market price. the extra money is not worth it. also, the MT-77 only has a 12 hour battery life vs. the MZ-R900's 21 hour life.
to answer another question, you can record an MD (supposedly) up to a million times before they die so realistically they will NOT wear out.
another great use for an MD recorder is that you might record lectures an concerts live, which you cannot do with MP3 players. with up to 5 hours or recording time/MD, if you are in college it makes for a great investment over those silly tape recorders.
If you would like to get a recording deck that integrates with your computer well, get the MDS-PC3, which is a sony deck with a USB connection that facilitates digital music transfer and labeling. It goes for 399 on crutchfield and about 300 on video-direct.com. It also has MDLP. You can buy a cheap player to go with that.