Transitioning to a 404 soon, and I was wondering, do you perform really basic functions, such as the processes involved with recording/truncating/deleting/etc, the same way you would on a different device, such as the 202? Or is there a different way of going about those processes that I should learn.

Are you coming from experience with a 202? I have an 303 and 404sx so I can say that the basic functions are basically the same. There are differences though that take a bit to get familiar with. On the 303 you can stop all samples playing by hitting delete, on the 404 its also an option to hit cancel four times in a row. One the 303 you can add an effect after choosing what pad to sample to, the 404 can't do that.

I'm not sure if the 202 lets you set the sample tempo before recording, but that is a very useful tool to get loops just right.
To record you hit REC>choose a pad> set tempo/level>hit REC to record> REC again to stop.

Truncate is still del>pad>mark>del

You can however delete multiple pads in one go by hitting del>pad1 (it will play the pad's sample to let you know exactly you are getting rid of)>pad2 that you also want to delete>repeat>del. The 404 deletes very fast compared to earlier SPs.

my partner has a 202 and from what I've seen, the BPM changing and record functions are a bit different but you won't be losing anything in terms of usability