"LoudLit.org is committed to delivering public domain literature paired with high quality audio performances...Putting the text and audio together, readers can learn spelling, punctuation and paragraph structure by listening and reading masterpieces of the written word. Read and listen via your web browser or on your mp3 player. Regardless of how you enjoy the audiobooks (audio books), they are free."
"Record and playback digital recordings up to 5 minutes long which can then be posted on" to your personal Audioboo profile page.
You can record your "boos" by phone, with the iPhone app or through your web browser.
AudioBoo is iTunes ready making it the easiest way to begin podcasting.