My band mate bought the 07 and I have the 40 the basic difference is the XLR/ 1/4" input and mine also has a remote jack for foot control option. I want this for later as I am now recording all my live gigs.
He has done some overdubing on his and made a full song, he is not interested in computers just like you. Amazing little device, I should have bought one a long time ago.
I had a client in the studio overdubbing some vocals and acoustic guitar ( Martin D 18) on some songs he working on. He had a new song and I just grabbed the Tascam and hit record,,, 30 seconds and we are recording. When I played it back he was blown away at how it sounded equal to the stuff we had recorded using a lot more gear.