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essentially this would help with my ntg2/marantz 661 combo?
No. Why would you go through all the trouble of this hack for an unbalanced output when you have a recorder that has balanced mic/line inputs? You'd be better off investing in a proper field mixer.
1) Rule of the wallet is always to consider. That being said, even if it outputs an unbalanced signal, one thing you can do is to run on XLR cables for the most, and rely on short 3.5mm to minimize the risk of audio interference due to that unbalanced output.
2) Sure, but money is often an issue. I've used a JuicedLink CX211 with my HV40 since I bought it and I'm now using it along my Tascam DR-05 recorder. Not the simplest setup, but both devices works well together.
Too bad they don't have a balanced in to balanced out for the same $39...