iTalk Pro is a handy little device you plug into your iPod that transforms it into a recording device. At first I didn't think I needed it, but I've found it makes me feel like a regular Veronica Mars and actually recorded a long development meeting for my sick co-worker.
iTalk’s twin built-in mics record directly to your iPod, and its adjustable gain settings give you control over the volume. Unless you're totally crazy about making "notes to self" this probably isn't a necessary gadget, but if you're a student that takes tons of lecture notes, or have to interview people for work, it's certainly easier than carrying a separate recorder. Of course, if there's nothing funnier than your friend or baby's laugh that might be worth capturing as well.
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Note that some microphones require their own, separate power source (sometimes referred to as “phantom power”). To use such a mic with iTalk Pro, simply plug it into iTalk Pro through an appropriate pre-amp.
You can purchase an iTalk Pro for $49.99, which is much less than a regular digital recorder.