Hmm. I would recommend going digital. The most economical/practical digital recorder is a portable MiniDisc recorder, plus a good cardioid microphone, or a parabolic one if you can afford it or want to build one.
An inexpensive MiniDisc recorder with the requisite features (records, has recording level controls):
http://minidisco.com/md-mt190i.htmlA decent cardioid mic:
http://store.yahoo.net/minidisco-store/sp-cmc4c.htmlThe above are just some examples. However, going digital is definitely worth it, IMHO.
-robo