Adorama via eBay offers the factory-refurbished Olympus VP-10 4GB Digital Voice Recorder, model no. V413111BU000, for $39.99 with free shipping. That's tied with our mention from three weeks ago as the lowest total price we've seen. (It's currently $25 less than a new one.) It features voice-activated recording, variable playback speed control, USB direct connection, and three stereo recording formats. A 90-day Olympus warranty applies.
Note that the listing refers to this item as new; however, it also calls it refurbished in several locations and provides warranty information.