This seems funny to me since multitasking has been the big feature Android had over iCr@p since at least 1.6 but I'm pretty sure it was always there. My G1 before rooting and hacking to 2.2 had no problems multitasking (still has no problems on CM6.1 Froyo). Same with the edge. I routinely use the stock Audio Recorder app on my EE for recording 2-3 hour lectures while surfing the web or using my textbooks, documents, taking notes, etc... on the e-ink side. Multitask via the following:
1. After you start the Audio Recorder app (or any other app), hit the home button.
2. The recording will continue in the background and allow you to proceed with other stuff.
3. When you want to get back to the Audi Recorder, hold the home button for 3 seconds to get a pop-up window
4. Tap on the Audio Recorder icon.
5. Pause, stop, etc...
6. Click on book+ icon in the upper right corner of the Audio Recorder to add the recording to your library.
Android 1.6 only shows your last six applications in the pop-up window. If you happened to open more than that during your multitasking, just open the app from the app menu. If you are running something like ATK (Advanced Task Killer), make sure the Audio Recorder app is on the white list or ignore list.
The only time I have problems with it is if I let it go to sleep while recording. If I'm not actively using the e-ink or tablet side, I just turn on the table side every 10-15 minutes and then hit the Screen Lock shortcut I added to the desktop. For whatever reason, the device can go into suspend mode when open and running the Audio Recorder app. I find that rather annoying but my workaround isn't too bad.