sparkplug

I recently got a sony MZ N505 not realizing that I couldn't recored with a mic directily. From what I see on this forum is that getting a battery box with this gets better sound than returning the 505 and getting the 707.??? I have that $70 T-shaped sony mic, can I just get a battery box (basic or with level & bass levels around $70) & use the 505? Or do I need a pre-amp? I dont feel like spending more Im just recording live rock music for friends bands at places like CBGB's. Or should I just buy the 707? Thanks ...Phil