haha... totally forgot to comment on that. Well you don't really need special equipment. i use my Logitec USB Headset that I got for my PS3 and an app called Wavepad to record. The headset has good sound quality, but I wouldn't mind if you didn't have that great of a mic. All you need is a mic and something to record, edit, and save to mp3 with. I suggest Goldwave for you PC users.
I mean... I'm gonna be using GarageBand for producing the radioplays for goodness sakes. XD
EDIT: Lawl at the new profiles. XD