OK well, quoting the manual is one thing, but here's what I found in actual use!
The "record" function works by ripping the CD at full speed, not in realtime, so you won't need to play the full CD to get all the songs. Once recording is started, you can switch to listen to something else and it still continues to rip.
If you burn your own audio CDs (as I do), one annoying aspect is that you will NOT be able to associate any titles to those ripped tracks. It seems that only the information for commercially available CDs found in the Gracenote DB can be associated.
I haven't experimented enough to know what happens in a multitude of situations, including if one were to:
a) turn off the car
b) stop the recording mid-track
c) eject the CD before it's done
... etc
If anyone else has more info to fill in the blanks, I would be grateful.
