I have four Zoom H2 units and use them all the time. I love them and they do what I need done, efficiently, effectively and 98 percent of the time without a hitch.
I use them for podiums at funerals and other speaking engagements. I use them in the pockets of roving speakers (some who LOVE to move around) with a hardwired mic. I use them suspended, on mic stands, hidden in areas near or around speakers, live musicians, readers at weddings, etc. I use them placed strategically around sections or instruments in music, instructional and band/orchestra performances.
I use the "normalize" feature quite extensively. I also often ingest the audio into my mac system and burn an audio CD, then use the CD aiff files converted with Toast to further adjust, edit and place the audio where needed during the editing process.
Had I initially had the funds to do so, and prices then what they are now for the H4 I would likely go with the higher model due to added capabilities. You can visit the Zoom H2/H4 sites for specific information regarding the differences of the two.
But I have to say I've NO regrets going with the H2s and they have constantly saved my bacon. I've read and heard of various problems regarding them (somebody somewhere complains about pretty much ANY system in one way or another) from audio "officianadoes" but have not experienced ANY serious problems myself. Only once did I inadvertently do the wrong thing while formatting one of my cards so I can honestly chalk that one up to operator error. I was not prepared with backup, having become overly confident, and during a series of commercial recordings using the H2 as a backup, I messed up. It will not happen again, and I will have extra cards already formatted next time - turn it off, insert new tested card, turn on set it and record. Voila.
You would do very well, most especially for narrative, vocal, speaking tracks, with the lower-priced model.