Yes, I routinely use 44.1 Wav format. You can use 11.025, 22.05, 44.1, or 48, or MP3 encoding from 64 to 320.
The unit comes with software interface to upload and download from PC via USB.
You can buy rebuilt units from Creative via Ebay for around $150.!
I record on mine using the internal battery. It will easily record a 4-5 hour job. Also, you can add an additional battery to double the time. I haven't found it necessary. It comes with an AC/recharger cord. DC/recharger is inexpensive. I listen to mine on the way home every night in the van.
I also use it sometimes to play MP3s during breaks.
DonM