Any advice / models to check out would be much appreciated.

Here is what I'm looking for:

* Records at various bitrate MP3 (upto 320kbps would be nice) via Solid State Recorder (Microdrive, CompactFlash, etc -- think Marantz PMD570) OR directly to a CD-R/DVD-R disc (but as MP3 not PCM)

* Has spdif in (preferably toslink, but either is okay) -- at the very least has RCA input or dual balanced XLR

* I have NO NEED for the unit to be portable

* levels display

* headphone jack

* under $200 possible?

Interesting. I didn't even know such a product class existed, period.

If you understand German, the german Audacity support forum might help you.

There are some portable MP3 recorders available, Edirol and Roland seem to be the best (and most expensive) ones

Edirol R-9 (or R-1 used), M-audio 2496