Ideally I would like to do something like generate an
mp3 file to save hard drive space.
You can set up Ecasound to record in ogg vorbis format on the fly -
this will save your disc space:
ecasound -i:/dev/dsp -o:filename.ogg -t:3600
where the number after -t: is the length of recording in seconds that
you would like.
Then you can import the vorbis files into Audacity, cut into tracks as
required, and export to WAV format for CD burning. The quality should
be perfectly adequate for voice recordings of this type.
Alternatively, if you have the disc space, you could record to mono
WAV files and cut out the lossy compression stage.
Cheers
Daniel