jlh: Forgive my ignorance...The description of the Olympus product mentions 512 MB of internal flash memory. What is a sufficient amount of memory for recording, if this is not? (the product claims up to 138 hours of recording time, but I'm trusting your experience over my interpretation of the product description)
Ah... I just reread the description. Yes, it does claim 138 hours. I think I misread it and I regret I offered that criticism. However... personally I would not be so willing to buy a device that could only record in mp3 or wma format. In fact, I'm such a hifi freak that if I could, I'd record only in 24bit with a 96kHz sample rate. Of course, this doesn't happen without spending a lot of money, and if this Olympus device could record in that mode, it would be able to record only 15.5 minutes.
That being said, if you are not wanting especially high quality recordings, and don't plan on doing much post recording work or mixing, I'm sure you could get some decent recordings --
assuming you are able to use a good external mic and your mic placement is adaquate. If there is an option, record in the highest bitrate possible (I think there is a stereo function on this as well -- useful if you have multiple microphones around the room, otherwise it will be in mono, which most players use the one channel and route it to both channels during playback.), and adjust the microphone sensativity so that there is no peaking or clipping going on. The microphone is about the most important thing, so don't get cheap there or it won't matter what kind of bitrate you have.
Just some things to keep in mind.
Best Wishes!
Josh