If I were a first time buyer, I'd opt for the 002 AFTER they get the bugs out of it. Too many reports of early failures, and I'd hate to see what it would cost to have that unit serviced out of warranty. Still, I think it offers a good set of features, given the included plugins bundled with the 002. I don't know how long Digidesign will include the bundled plugins, but without them, its a very expensive piece of gear. If you don't need the extras offered in the 002, there are a lot of good deals on 001s available, and you could put the cash difference into a good mic or preamp, or something that WILL make a difference to you. good luck, dave patterson / knobville