On my iPhone 4 there is a "voice memos" app that comes with iOS5 and I would imagine that if you've got your bluetooth already connected, it would use that as a mic. However, I've not used the app and so I don't know if it would work.
You could also buy Garage Band ($4.99) and then use the editing function that comes with it. Plus, it's fun to just tool around from time to time on it.
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You could also buy Garage Band ($4.99) and then use the editing function that comes with it. Plus, it's fun to just tool around from time to time on it.