For the price vs. value, I would say that it is just right. You get exactly what you pay for with this item, perhaps even a bit more.
The sound quality of the H2n is quite good when compared against many other handheld, condenser mic equiped models offered by Zooms' competitors. The mics Zoom uses are very well balanced and very sensitive and of overall very good quality. I've used this in a variety of "live" situations from very quiet shows to ampitheatre shows to indoor rock shows. The H2n always performs well provided that you take the time to familiarize yoursef with the onboard effects and ensure that you are not clipping. Personally, I would not recomend using any of the built in limiters or compressers etc. If you have a good DAW to transfer the recorded files into then your best bet is to just record it dry and do your eq'ing/mastering later with your good monitors and in a controlled environment. Also keep in mind that the H2n's condenser mics are very sensitive to handling noise and or vibration noise from being set on a hard surface. You can easily ruin a recording of a great live show by setting it on a wooden railing without some sort of padding or something underneath, the optional stand is nice. Also, keep in mind how much internal storage space you have, the options of choosing between different sampling rates and or bit depths is fantastic, but you can use that space up quicker than you may expect if you insist on recording at the highest quality. On a lower note, the proprietary file system is a bit odd, once you get used to it it's no big deal but you'll see what I mean.
I've used a ton of handheld recording devices over the years from microcassette all the way to fully digital and I have to assure you that the H2n is a godsend for the applications that it is best suited for. I would certainly purchase the H2n again if necessary or another model from Zoom. I've used all of their H series recorders and have gotten consistently good results.