On this topic, I invite people to try out my non-prototype, non-project toy that uses Google's support for HTML5 speech recognition. It's pretty funny how wrong things go when you try to say something even a bit out of the ordinary:
http://arachnoid.com/speech_to_text
If I say, "Now is the time for all good men to come to the aid of their country," an old teletype test sentence, the Google recognizer always nails it. If I say, "I hit an uncharted rock and my boat is being repaired," things go hilariously wrong, and every time differently.