I've just released VocaNote Beta in the Market. I wrote it for sending notes-to-self when driving and wanted a single-button-click solution. It took some doing, but I got it working and it does not use the standard email sending, which requires selecting an email app and then pressing "Send". It it just a single click to fire off the program, it records your voice, converts it to text, and sends it to your designated email address or SMS phone number.
You can read more about it at:
It has been tested on a Droid X, a Galaxy S, and a Nexus One, but there are lots of other Android phones out there, so I would appreciate it if you could give it a trial run and let me know how it goes (and your phone model).
Just search for VocaNote in the Market and you will find it. Feedback, suggestions, accolades, stock tips are all welcome at email@example.com.
Craig Hamilton a.k.a. elmo99