From my experience, the mode for maximum recording time is barely acceptable. I think you will want to use one of the middle choices. Also, for the $10 extra, get a model with USB. That way you can archive your files to your computer and free up the memory in the recorder.
Do you plan a direct connection to your receiver? If so, most allow the headphones to monitor what is being recorded. If you plan to use the mike, I suggest you locate an old suction cup device for recording telephone calls, and center it over the speaker coil. You'll get a nice clean recording, with no room noise from the mike.
Many have built in timers so that you can preset to record at certain times in the future. Some only allow setting within 24 hours. On the more expensive models, the timers act something like VCR timers: every Sun (Mon,Tues,etc), m-f, m-s, everyday. They also have really excellent voice activated features, you never miss the sound that activated the recording,
You'll be amazed at the features and quality, for such a little expense. I have both Olympus and Sony, and they are about equal.