This high fidelity recording device is an application by Sonzea which is a fantastic audio recording application for the iPad or iPhone.
From my experience, and I have recorded a number of presentations and discussions, the quality of the audio recording is better than any other application. Even when the presenter is a good 20 to 30m away the audio is still very clear.
An added bonus is to be able to upload your recording to your Dropbox account, which can be set to upload automatically once the recording is complete.
When in the playback mode the audio can be sped up, slowed down or played backwards using the adjustable speed wheel.
I think the simplicity of this application is what makes it so appealing to users.
Currently this is a free application, but not sure how long it will stay like this as the USA iStore charges $0.99.
The only drawback of this simple and powerful application is that when you use another application the recording pauses. Other than this small drawback, the application is a must have for iPads.