I have a long run unbalanced cable going to my old school Akai X5000 reel recorder. I was considering buying a Hum Eliminator so that I can convert my unbalanced line in of the X5000 to accept balanced in so that I can use a long XLR balanced cable run instead.
I was considering a cheap one like this unit
Alctron HM-2 Hum Eliminator - Transformer Isolator - 1/4" and XLR Inputs which is passive but has a transformer in it.
It would work, but the problem with those cheap boxes is that they use a small and cheap transformer inside.
The problem with a cheap transformer is that probably you will have limited frequency response, and like Bo Deadly said in the second post you will have higher distortion than the incoming signal, specially in the Low end as the transformer will start to saturate.
As you are recording I assume you want to preserve the signal as much as impossible from the output device into the recorder and not have something in the middle that will degrade your signal.
A solution could be to buy 2 good quality transformers and build a box yourself, for example Lundahl transformers, that way the signal would not suffer as much as with a cheap transformer. The problem is that good transformers are very expensive.
Is this correct, converting unbalanced to balanced must require a transformer?
Not really. A transformer is just one way of doing it.
Another good way of doing it is using a quality Opamp like the THAT Corp 1280 which has excellent audio performance, and might be one of the most transparent ways of doing the conversion.
You could DIY a box with 1x THAT 1280 inside and with and external or internal PSU (positive and negative rail of 6 VDC to 36 VDC).
It would be easy to build, cheap, and you would have a transparent interface.
You could have your long run of cable with a Balanced signal and have this box next to the recorder to have the minimum amount of unbalanced cable/signal possible
Another option in case you don't want to DIY an unit, you could buy a box that does the same thing (active devices, no transformers used):
https://www.canford.co.uk/Products/95-654_SONIFEX-RB-BL2-PRO-INTERFACE-Bi-directional-single-stereo
Or a cheaper, but also good alternative:
https://artproaudio.com/product/cleanbox-pro-dual-channel-level-converter/
Would I need something better for the hum eliminator like the Ebtech HE-2 2-channel Stereo Hum Eliminator or for this purpose, its not really necessary?
As you can't control the quality of the transformers used in those boxes I would go through the active route