AAQR: Tape-a-Talk (free, $5.70)

Tape-A-Talk is a no-frills but robust audio recorder that will continue to record even if the screen times out, perfect for recording lectures and whatnot. You can choose to share the result with others through various "share" options, but is that really a feature? The interesting part is the ability to record in low fidelity (8-bit vs. 16-bit), low-bitrate (all the way down to 8 Khz and up to 44 Khz), and choose between regular WAV/PCM and compressed 3GP.

The pro version has a few more tricks, like widgets, forward/rewind, edit/trim, and a few others. And it's ad-free.

Personally, free version does everything I need.

Tape-A-talk, free
http://www.appbrain.com/app/tape-a-talk-voice-recorder/name.markus.droesser.tapeatalk

Tape-A-Talk Pro, $5.70
http://www.appbrain.com/app/tape-a-talk-pro-voice-recorder/name.markus.droesser.tapeatalkpro