This sure looks like a good idea on paper (pdf brochure). It records anywhere from 3 (.wav format) to 18 (.mp2 format) hours of audio, and files can be downloaded, via USB, to either Mac or PC computers. Battery life is stated as greater than 6 hours using 2 AA batteries. The phone output on the bottom of the mic allows it to be directly connected to a sound card. The price is yet to be announced, and it is scheduled to ship in January 2006.
UPDATE: OK. I’m hearing that the retail price is going to be $1200. In short, never mind!