The microtrak works well for me too, and those updates have helped but there are a couple of poor features: The delete button is right where a right handed person naturally holds the device. I once (and once only :-) held the microtrak after an hours recording session and watched while the screen appeared to be frozen, snatches of words appeared and I struggled to read them as they flashed on screen, eventually one word became apparent: "sure" and panic set in as I let go of the unit. Yes I had just erased the whole recording session! Just my voice, but was I annoyed!!
Imagine that, having the delete button being its own safety - "Delete track? Press delete to confirm". Sheesh!
The other thing is that if the volume control is set to max and you press record in the presence of a very loud noise - in my case the fog horn of a large ship - the volume control does not work. Very scary if you are wearing a pair of earphones that are tightly coupled to your ears. My panic responses are not well suited to situations like this.
The work-around was: Stop the recording, lower the volume control, restart the recording.
I really ought to tell them about this.

What mics do you guys use?
I have a couple of DPA 4060's which seem to give excellent results in a quasi-binaural setup.
Oh and one other thing - have you guys been able to use stereo tracks successfully in the 5.1 space in Vegas?
I haven't. I even tried extracting the left and right channels to separate tracks in vegas and panning. It's a real pain and doesn't seem to give any improvement in getting the sound to move around the 5.1 audio space.

Is the DPA4060 on M-Audio's list of approved microphones (phantom-powered mics that don't self-destruct when fed only 30V from the Microtrack)?

Matthew, I'm recording to the Microtrack when it's appropriate to do so, I've also got a Studio Devices 722 and an Edirol R4. Each has its place. If it's just dialog, I use the in-cam audio more of the time than not, but on several occasions I've split it out to the Micro, simply because of the additional dynamic range.
Course, regarding the DPA, I was unaware of any mics self-destructing due to the lower voltage. I've heard a couple mics that obviously don't sound up to par, but that's it. However, I quit using B&K products when they sold out their studio/live mic line to what became DPA, so haven't paid much attention to them since. Still love my B&K 4000 series mics though!

I have the DPA 4060's powered from a standard 9V alkaline dry battery in a small die-cast box.
Very sensitive (frequently too sensitive). Lovely sound quality and excellent spatial positioning when used in quasi-binaural. Rather too sensitive to wind, which is strange as they're omni.

Neumann advised some of their mics will self-destruct when used with the Microtrack.

This is different from the slight performance reduction (including reduced dynamic range and more) at lower phantom voltages, which is hopefully likely to be less of an issue with highly portable recording anyway.

Wow, that's not very good. I wonder what M Audio are doing about it?

Well this isn't a problem entirely limited to M-Audio!

Some microphones want phantom power at 48V and some want 12V although the later is fairly uncommon. M-Audio seem to have been trying to have a bet both ways, probably to save power consumption.
One can buy phantom power supply units, yes for either 12 or 48V, so if you're really in a bind with the Microtrak there is a way around it although that's another (small) box, XLR cable and battery.

Bob.