iPhone Buzz reports today that DreamCatcher is officially offering audio recorder software for the iPhone. Along with the ability to record your voice, this software allows users to directly record audio to ringtones without the aid of a computer for in-between conversion processes. Dynamic volume adjustment, channel and bitrate control, and a choice of mp3, mp4 and aac file formats comprise a decent range of options; you can also directly attach them to an email from the app itself.

You might remember this very feature from our “Pre-Macworld Top-Ten Wish List “ post back in January. Here’s what Dr. Kyle Dickson had to say about the potential value of audio recording on the iPhone for teaching and learning: “ Gabcast has shown that low-quality recording can be invaluable for podcasters on the go, and we can imagine the benefits of weekly exercises in public speaking or German conversation captured anytime, anywhere. Add on-site interviews and audio feedback on student essays or projects, and we think voice recording will soon become second-nature for the iPhone classroom.”

DreamCatcher is currently asking $29.95 for iPhone Recorder, and as of today, it is only available on jailbroken handsets. It will be interesting to see what happens once the Apple App Store opens for business; perhaps, when people start finding their software the official way it’ll be far easier for developers to get freeware apps into the catalogue.