I'm pretty sure you can record and export with Beatmaker, it also allows you to import samples and soundbanks from your computer to create loops on the move.
Here's a wee list of useful apps I've got:
Ping! - Free SMS/push enabled instant messaging to others with a ping account. Basically enables free messaging between iphone users (not sure if this is available for Palm/Nokia/Blackberry etc phones). Differs from IM apps as it is push enabled (meaning messages pop up whether you have the app open or not) and doesn't have a live contact list, so you don't have idiots bugging you with mundane patter all day, unless your mates are idiots. (Free)
Facebook - Self explanatory, very well produced app. Constantly updated to reflect changes on the full site. (Free)
BBC Reader - Pulls news content from the BBC website and caches it for offline perusal. Really shit at updating by 3G/EDGE but if you refresh it before leaving he house in the morning, you can catch up on a fair bit on the subway/train/bus. (Free)
Sky Football Score Centre - Like the one on the Sky Sports site, but on your phone. (Free, at least until Rupert Murdoch decides to charge for everything to do with Sky)
Dictionary - Has a blue and white icon with a D inside a circle as its icon, that should help you find it on the app store. Decent offline dictionary, sound clips of word pronunciations if you've got 3G/WiFi reception. (Free)
Remote - Control iTunes from your phone if you have both devices on the same wireless network, quite handy. (Free)
VLC Remote - Same as Remote, but tailored to VLC player. (Free)
Photobucket - Upload pictures to Photobucket from your phone, much better to text/email a link than add costly MMS messages to your already pricey iPhone tariff. There's probably a Flickr one too if you prefer their service. (Free)
Yelp - GPS enabled web 2.0 review thingy. Brings up a list of categorised locations in your area with user submitted reviews. Nice if you're looking for somewhere to eat/drink in an unfamiliar area, or are just fed up of the usual haunts. (Unsure of price)
Games - Rolando (tilt sensing platformer, similar to LocoRoco on the PSP), Doodle Jump (tilt sensing bounce-em-up), Alive4Ever (top down 2D zombie shooter, with bluetooth multiplayer)
I have a bunch of other apps too, but those are the ones I use the most.