I don't know if there's really a "fairly inexpensive" means of live recording, starting from scratch; even the cheapest minidisc is gonna run you $50-$100. Most of those will have powered mic inputs instead of/in addition to line-level line inputs, which should do a decent job with unpowered mics in medium-volume settings, though possibly overloading (and thus the clipping you can hear in these recordings) if it gets too loud. Sonys (one of which I used for this recording) are the primary exceptions to that, I think, with some (most?) models only featuring line-level inputs; most MP3 recorders (like my Archos) will have the same problem, so you're left finding some form of powered mic (like the Sony ECM mic Dan let me borrow to record the second Monstro bootleg I did when I left my mic at home) or putting a battery box in between the deck and the mic (my standard rig). Either way, you're looking at another $50-$100 at least for the power+mic half of the equation.
So yeah. Basically, the cheapest way to do it is to borrow from someone who already paid for stuff. Otherwise, you're going to be working up from $75-$100, the more you spend the better your equipment.
