Bernie, I have a friend who uses his iPod for recording and mp3 playback all the time. I considered it, but went for the Zoom H2 at $199. The H2 can record wav and mp3 files of varying speeds and can hold them in separate folders. If it records, it obviously plays back, so you have the best of both worlds in a handheld package. The sound quality is exceptional. Use a 4gb SD card and you're set for life.