It can record in wav and act (for voice, low kbs setting, but do not know the different bitrates for that, must be low, it is speech, so probably max 64 kbs). Time depends on setting. Time left to record till the memory is full is shown on screen. For radio recording it can be set from 32kbs, 64kbs, 192kbs and 384kbs. However, my player is faulty, records with a lot of static, and shuts down during recording at the highest bitrate. Hope others have better stories!
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This sort of thing has cropped up before....and it has always been due to human error.
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