HW 101 is in another league!
I used instrumentation recorders in a previous life as an acoustic engineer and let me tell, you would be impressed with the possible fidelity of the things. The HW 101 was one of the nicest, though as Jon says, loading the tape takes some patience. If you are into accurate sound reproduction, I believe this thing would blow you away.
As Jon says, in direct mode the bandwidth is much wider than FM, but in FM mode, the time coherence, transient response and distortion are much better than any audio tape recorder I'm familiar with. And I have lived with Studer, Otari and more. In the aerospace world, we recorded scale model acoustic data up to 80kHz which requires 120ips in FM, but for correlation analysis and acoustic intensity measurement, you need the accuracy of FM mode. I never tried music on it, but always thought it would good. When you've seen the input vs output waveforms of FM vs direct, there is no comparison. I seem to recall that the s/n ratio in FM is not steller, but the accuracy is impressive.
Now at this price, does the thing actually work? And getting it repaired could be tough. But I would jump at the opportunity if I lived nearby (location listed as Victoria).
Jeff