My recommendation?  Buy a Minidisc player/recorder.  The Sharp MD-722 is $180, before any coupons.  It may be a bit bulkier than other MD-Rs, but it does cost much less.  And it has the convenient slot-load, a jog-dial for easy naming, and a LiIon battery that lasts for 10hrs.  And you're getting something eminiently more portable than a MP3 player, as you can take it with you and record anything, and extra MDs are cheaper than extra RAM.  Just my US$0.02.