Glenn,(posted 9188 days ago)I have a Sharp 702 and am very pleased with it for musical use. I have considered using it for location sound, but would only do so if I couldn't get a portable DAT. The reason is the time-code, which the MD does not have. If you use MD recording, you (or your beleaguered sound editor) will be synching manually, which can be a pain.
If you do use it, you will need a pre-amp (?) because the mini jack will not support a standard full-size michrophone. These can be bought for about sixty bucks, I think. I'm speaking for my sound man, who knows more about all this than I do.
As far as compresson, the sound is perfectly fine for your film or video needs. I get really sick of the audio snobs who act like their ears are smarter than the rest of us. 99% of your audience isn't even going to notice any "compression loss". Yes, it's there, and an expert may be able to catch it, but if what you are filming is worth a damn, nobody will care.
Email if you've got more questions.