This product is being phased out. It is being replaced by Smart Recorder/Transcriber here:

https://itunes.apple.com/us/app/smart-recorder-transcriber/id700878921?mt=8

Smart Recorder DE gives you all the functionality of the popular Smart Recorder product. In addition, it gives you full editing capabilities. You can trim recordings. You can cut, copy and paste recording segments. When recording, you can either append to the end of a recording, insert the new material in the middle or overwrite a portion of an older recording.

Smart Recorder DE provides the following features:
- A simple user interface
- Background recording and playback (other apps can run while Smart Recorder is recording or playing or your device can be sleeping during recording or playback)
- Generation of ringtones for the iPhone
- Sonoma Wireworks MAPI Copy/Paste support--exchange recordings with any of 90 apps which support MAPI
- Multiple export/import methods including:
- Dropbox
- Box.net
- Email
- Wifi sync
- SyncDocs
- iTunes file sharing
- Multiple supported export formats including CAF, WAV, AIF and MP4.
- Alert prompts to help you choose a format for exporting larger recordings.
- Add tags or pictures to mark positions in a recording
- Time slider/forward/back buttons to quickly navigate through your recordings
- Bluetooth and external headset support
- Auto pause/voice activated recording
- Variable speed playback with optional pitch correction
- Many system settings to control the behavior of Smart Recorder
- Stereo support
- Flip mode to put the Mic on top
- Append to existing recordings
- Categorize/sort recordings
- No time limit on recordings
- Comprehensive help section that describes all of the recorder's features

Buy now and you will get free upgrades with many new features!!!

There is also a Mac version of Smart Recorder available here:

http://itunes.apple.com/us/app/smart-recorder/id412615645?mt=12
http://itunes.apple.com/us/app/smart-recorder-lite/id420266239?mt=12