Saw this on one of the boards I follow. Seems like a pretty useful tool if you take lots of dictation through their iphones or ipads. Again, I have not tried this myself so I’ll just leave the following here..

I am pleased to announce the release of Smart Recorder DE.  The “DE” stands for Dictation and Editing.  In addition to all the great features of Smart Recorder, Smart Recorder DE gives you a number of editing functions.  You can cut/copy/paste segments of recordings.  You can trim a recording.  When adding to a recording, the new segment can either be appended at the end, inserted at some point in the middle or made to overwrite a portion of the old recording.  For the first few days, Smart Recorder DE will be free.  After that, it will cost $6.99.  It can be downloaded from the following links:

iPhone version: http://itunes.apple.com/us/app/smart-recorder-de/id506033219?mt=8
iPad version: http://itunes.apple.com/us/app/smart-recorder-de-for-ipad/id506036832?mt=8