I used to use a fairly complex audio set-up that incorporated a stereo camera mic (from Rode), and an external mixer/wireless Lav. A friend of mine is using the Tascam DR-100, but the price point was too high, so I decided to try the DR-40 which is very similar, and I have been very happy with the results. Since the DR-40 has built-in mixing capabilities, I don't need the external mixer anymore. I just use a Samson wireless Lav for my talent and use the on-board mics for the ambient audio. If I am doing corporate work (like a trade show) I use a hand held mic as well. The DR-40 can take two mics at a time, plus the on board mics. This thing sounds GREAT and it's easy to use. It would be nice to have dedicated knobs for certain things, but that would be impossible based on everything you can do with this unit, and after you spend some time with it, it's super easy to make adjustments. I run the stereo output right into my DSLR (Canon 5D MKII), and I keep a copy of the audio on the Tascam. Most of the time I just use the audio that I print to the DSLR, but backing it up to the Tascam gives me the option to re-mix the audio if I want to. The only draw-backs are that there is only one audio output, so I have to unplug the output to the camera and plug in my headphones to check the audio mix. I have heard that you can just use a Y cable, so I guess it's not that big of a deal. I also wish they they would include a hot shoe mount, but again, it wasn't that difficult to find one (I am using the Pearstone, but you can find others online for about $15). All in all, I am VERY happy with this unit, expecially for the price!
Bottom Line Yes, I would recommend this to a friend