This looks pretty cool.
It may tip me over to switching to an iPhone.
(cross posted to the Musicians forum)
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http://www.macworld.com/article/136618/2008/11/fourtrack.html?lsrc=rss_main-snip-
The company is targeting singers, guitar players, piano players and other musicians who want to capture musical ideas and record songs on their iPhone. You can use the built-in mic on the iPhone to record, or attach an external mic.
As the name suggests, the app has four tracks that are recorded at 16bit, 44.1kHz and can be unlimited in length, or until your iPhone is full. The interface shows meters for recording and playback levels, recording clip lights, faders for each channel, and pan controls.
FourTrack also features a Compressor and Limiter, latency compensation and Wi-Fi sync so you can get your recordings off your iPhone or iPod.