Welcome to NetMD, sorry about your sanity. No, NetMD is a feature that lets you transfer ATRAC3 files at high speed to your MD unit.. (after an .mp3 or .wav has been converted to ATRAC3, 16x for LP2, 32x for LP4). It's a bit restricted. You're allowed 3 checkouts of a particular song, after that you have to check it back in if you want to record it via netMD again. Can't delete any files on the MD due to that. Oh - no digital upload at high speed, only PC--->MD
I own a DR7, I don't have much 'phones wise, and only owned it a couple of days, but it smokes my R37s headphone out (much less tinny) and almost sounds as full as my deck. Bass boost boosts bass not mid bass (bass guitar doesn't get amplified much, bass drums do). Detailed.
But beware of the 15 page english section, I had to refer to the Japanese 100 page manual a bit reading the katakana, heh.