Dragon Dictation (When FREE may just cost more than you want to give up)

Early this week I saw a new iPhone app "Dragon Dictation".
The app will transcribe your voice memo into text!!. And it's FREE.

But, exactly how much does FREE cost you? Checking the EULA (End User License Agreement), Nuance Communications, makers of Dragon Dictation, want to capture and archive all of your contacts from your phone.

I passed on the app for now. Will have to see more reviews and wait for the horror stories.

Here is more information on the "Today In iPhone site"