If I were a reporter or a doctor, I'd want one of these. There have been various iPod add-ons that allowed you to record audio, but this one is neatly integrated and provides high fidelity recording.
The really nice thing about this is that you have enormous recording capacity--many hours without changing tapes. And you end up with sound recordings that are digital and computer ready--just plug your iPod into your Windows or Mac computer and the recordings are automatically moved to iTunes, ready for transcription or further processing. No muss, no fuss, and should save a lot of time if you have to record meetings or notes regularly. From iTunes, you can easily email them to someone else, convert them to a podcast, or just listen to them.