The sort of transcription depends on the type of recording equipment you have. Cassette transcription, as digital is much more popular is no further offered by most transcribers, and it is much better quality and more easy to work with.
There are extensive variety of distinct digital recorders available on the market, and if you are intending to use an external transcriber you will need one that's files that are editable so that you can send the file on to the transcriber, and that is downloadable to your PC/Mac. The most basic machines, typically called 'note takers', simply record and play back on the machine that is recording, but you need one that will let you transfer files.
You will also have to contemplate the type of sound/video file the recorder makes. The new Olympus DS2 file is particularly great for language recording, as it is a compressed file (so modest and easy to send for transcription) but designed to operate best in the sound range covering the human voice. Yet, most academic transcription can work with a variety of file types.
It might be nearer to three hours for one person speaking into a Dictaphone but could well be at least six to eight hours for a large focus group.
You will also need to decide whether you desire a 'verbatim' transcription with every um, er etc. transcribed and all gaps etc. noted. This is essential for some work, such as police transcription, but is completely unnecessary in, for example, conference transcription, as the important factors in the latter are readability as well as correctness.
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