With a click of the button, you can go on to send your dictated text via e-mail or SMS, or to save it to the clipboard. Best of all, Dragon Dictation is completely free (for a limited time).
The application itself has a minimalist design: When you launch it, you'll be able to hit a button and record your dictation -- but that's it. After the initial voice-to-text transcription, you can also edit via text or voice, replace poorly transcriped words with suggested alternatives and select words or phrases to delete.
When testing in a noisy environment (i.e. a coffee shop), I noticed that the speech-to-text conversion is nowhere near as accurate as when dictations are recorded in a quiet place. Still, the application is impressive and may offer the fastest and most convenient way to turn your words into actionable text.