The Tivo of Audio?

I was on my way to work this morning and hopped out the last bus, when an idea came to me. A while back, I had a customer come in and place an order for a $400 Samsung Yepp digital music player and recorder. He wanted to be able to record voice and telephone conversations.

So the idea was - what is the audio equivalent of the Tivo? My dad, for years, has recorded radio shows on his way to work, or at home, for listening on drives or at the office. He does this all the time.

The further idea was - what about the iPod? Add an FM radio and an external port or two for mono or stereo microphones, and turn it into a mobile equivalent to Tivo for audio.