
Together with Eric and Alex I've started to hack on the RecButton.com, which we were finally able to finish and release last week.
So here we go:

To capture the audio from your microphone it uses a new API from Adobe Flash 10.1, which allows you to buffer the raw recorded audio directly in the client instead of using a flash media server. I plan to release the flash recorder plus a small javascript wrapper for it as a seperate project. For now you'll find the undocumented and messy code in my github repository.
Happy Hacking!