For Pro Tools LE users, we all know the horrors of Digidesign interface compatibility. While the 002 Rack is no exception in this aspect (see this forum, 002 Compatibility
), it does offer a nice array of features for those interested in a home studio on a budget.
The 002 offers four hi-fidelity mic preamps. They may not have enough gain to drive your old ribbon mics, but they can easily handle modern condensers and dynamics while imparting a transparent sound. Eight analog I/O give enough connections for a modest amount of outboard gear and monitors. ADAT I/O gives room for expanding your interface in the future, but keep in mind only at 44.1kHz or 48kHz rates. There have been issues with the power harnessing inside the unit, (usually depicted by the mute button staying lit even if you try to turn it off). Mine had this problem, it's a $20 cable and a half hour of time to fix.
The 002 can get your foot in the door for about $350-$500 dollars off of craigslist or ebay. They are a great way to begin expanding your studio into the analog world and still use Pro Tools editing systems without dropping the $600 on a new version 10 system.
Overall I would give it a six rating.