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Evernote, one of my favorite and most useful apps, has an update for Evernote's Android app that now includes Speech-to-text. The speech recognition allows you speak and the app will create text into the note. This is also a great way to have transcribed notes without the transcriptionist.
This can also be useful for students and teachers as a learning tool, note taking, and even for students with disabilities to be able to take notes by voice instead of by hand.
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The Evernote blogs says it only works on Android 4.0 (ICS) and some other devices, but it works great on my Droid Incredible 2 running Android 2.3.4. I dictated a few notes and it only had one error out of a full paragraph (it missed one letter).
You can get the updated app in Google Play
Source: Evernote Blog: http://blog.evernote.com/2012/03/27/evernote-for-android-update-speech-to-text-and-big-widget-enhancements/
Related:
Evernote for Educators - resources for getting started and using Evernote in Education
Android Smartphone and Apps I use as an educator