Audio-to-text Software

I have trouble taking adequate notes in class.
And I have a laptop.

I'm thinking about buying a microphone to record all of my lectures.
Before that however, I'm wondering if anyone knows of any good software which can transcribe what comes into the microphone into actual text (preferably in real-time, though not necessary).

So, any ideas?

Also, if you can help me out here too, I'm wondering if anyone knows of a good, compact and directional microphone.

Jam it back in, in the dark.

Well, this is the internet.
Financial constraints do not hinder its denizens.

So, do you know of any software in particular, or are you just guessing?

How ya doing, buddy?

Well, any recording that I will be doing will be done with a laptop, having a 1.4GHz Celeron M, some Conexant integrated audio card (though I have a special recording pcmcia sound card, should I need it).
This runs Windows XP.

I also have a couple of other computers, both of which are basically Windows XP as well (one of them is Server 2003 Enterprise Edition).
I've also found some how-tos on getting OS X to run on other x86-based computers as well, so that may not be too much of a road-block for me.

Does OS X have a program that can take normal audio files, and convert them to text as well?

Thanks for your help so far. =)

This thing is sticky, and I don't like it. I don't appreciate it.