I switched from iPod with iTalk to an Olympus after the iTalk mike cut out on me one too many times. I'm sure the iPhone is better, but I have no complaints with the Olympus. For phoners, I use a mike that fits between my ear and the phone headset.
One idea that'll do in a pinch: I was in a postgame recently and realized my Olympus batteries were dead. (Totally my fault.) I scrambled and grabbed my Blackberry, then called up the "Voice Memo" app that I believe is standard on most Blackberries. Not as flexible for playback as the Olympus, but it was nice to know I had a backup.