I think the main point is that it is not even designed to record. I mean, it can do it but I think it will be just an extra gadget. Sure, the thing about what mp3 encoding means is accurate. But I think it will also be irrelevant. It will have a crappy mike, it will not have much possibilities to edit or manupilate the recording. It will probably be focussed on recording speech, etc.
I would just record with your computer.