I have the Olympus equivalent and I am thrilled with the recording quality, especially when considering that the two stereo mics are only about 1.5 inches apart but mounted on horizontally opposed axis. I use it for live recording the entertainment that comes here. Mine does not record in .wav format but records in both .mp3 and .wma. It provides 15 hours record/playback on a single AAA alkaline battery. The next model up has a rechargeable Lithium Ion pack that recharges from any USB port. Mine was US$89 at Radio Shack but RS is having a sale on them now.

Another nice feature is, the unit has a retractable USB connector which eliminates all cables. Something to consider.

Here is mine:

http://www.radioshack.com/product/index.jsp?productId=12847403