Hello Squeak,
My songs average at about four minutes (which is usually about 3mins 50 seconds too long for most listeners )

I think smart media cards are starting to come down in price anyway and will continue to do so, so it should not be that much of an issue. I certainly would not let that put me off buying if I really wanted it. It is not as if you don't have the option to upgrade!

I don't quite understand your reluctance to use a pc based prog for recording seeing as you already have the hardware. As AJ says NTrack Studio is phenominal for the money. I tried with a yammie four track once and only used it twice before going back to the pc for recording. Then again I am not a techie and I know that you are so maybe it is horses for courses as they say
Best to you
Tony W