I'm going to be doing a similar thing on my 1-2year RTW that I'm leaving for in 1 month. Can't stop smiling about that =)
I've done high quality field recording before using an iPod, iKey, Portable Mixer, and 2 studio small diaphragm condensors on a stereo bar. But it's not very practical to travel RTW with all that gear.
In my recent search I've found 2 good priced portable recording devices:
Roland R-09 at $350.00 &
Zoom H4 at $280 Zoom H4 at $280
Both devices use SD flash cards which are relatively cheap. You can get a 2GB card for about $30 on ebay and store about 2-3 hours recording at the highest fidelity.
They both have built in stereo condensor mics. The H4 has a ton more features, but at that price I really question it's durability and reliability. A friend at a local music store told me he doubts it would make it around the world.
Either choice you make, you will have to buy an additional mic if you plan to record outside. Wind noise will destroy a recording and unfortunately I have found no windsock that will fit either device. I'm researching this now, but two that I'm considering are the
CS-15(the matched stereo electret condensor for the R-09, or the
Sony ECM-MS907. It doesn't appear that either has a sufficient windsock for recording in heavier wind situtations... but unless you're willing to drop a $200 on a pro fur windsock, you'll have to settle for foam.
Let me know how it all works out, or if you found other alternatives.
I will also post the results of my field tests once I order the gear.