I am dictating this response with Dragon NaturallySpeaking version 5.0. The standard version of this software costs about $100, the preferred edition costs around $180 and professional edition costs about $500.
I suspect that arieanne has version 3.0 and the software has improved alot in accuracy, speed, and speed of training since then.
The difference between the preferred edition and professional edition is that the professional edition has a powerful macro writer. Preferred can support multiple speakers. Standard supports a single speaker. Check http://www.dragonsys.com for more info. Also, the less expensive versions bundle a less expensive microphone. Many Dragon users find the preferred edition completely sufficient for their needs. It’s pretty common to purchase a better microphone than the one that comes bundled with preferred. A really good noise canceling microphone costs between 70 and $100.
The initial training time for Dragon NaturallySpeaking is quite brief, contrary to the 45 minutes to an hour required by older versions. Only about 10 to 15 minutes of reading followed by just a few minutes of processing is sufficient to get you started the very good speed and accuracy, assuming that your speech is reasonably clear and easy for the software to comprehend. You can improve your results further, by processing a bunch of your writing with the software so it recognizes patterns in your writing to make better guesses as it does recognition. The software also improves as you correct errors. A reasonably fast computer, and plenty of memory are important. A minimum of a Pentium III, 500 MHz machine with 256 MB of RAM is what I would recommend. A faster machine than a PIII 500 won’t get you more much more accuracy, but the recognition speed will be better, so you can have more applications open and speak more quickly and the software won’t get behind. With my 667 PIII and 384MB I can’t really dictate too fast for the software.
Another possible choice for speech recognition software is ViaVoice version 9.0. As Dragon Systems is about to be sold off by Lernout & Hauspie the company that purchased Dragon just a few years ago, but then went to Chapter 11, ViaVoice is the only software available from a company that’s not under a financial cloud. However, Dragon NaturallySpeaking version 4 got better reviews than ViaVoice version 8, due to slightly better recognition accuracy, and better interface. I haven’t seen any reviews of version 5 vs. version 8. A review of ViaVoice 9.0 was just posted at http://www.cnet.com, but with no comparisons to other products.
If you do a lot of writing, and are just a fair to middling typist, or have problems with your hands, speech recognition could be for you. Current software is quite fast and accurate. Dragon has very good command and control within Microsoft Word, Excel, and Internet Explorer. I don’t know about support of Windows XP, probably not yet as ViaVoice version 9.0 only has promises of future support at this point also.