Audacity has released a free sound recorder application for Windows Mobile 2003 and 5.0 based Pocket PC devices called >Audacity Audio Beta.

Here are some of the features of this application:

-Although the software can save files only to a PCM WAV format, you can customize the file name to be saved. For example, you can can specify the month, date, time, hour of recording as the default template for saving any recording
-You can record and define your own recordings as alarm notifications for your mobile device
-You can pause, resume and even append to an existing WAV file recording
-Automatically Sync files to your PC using the same folder structure.

The version is free while in beta but you have to register it.

Download here