Bad news: I've had negligible experience of it.
Good news: I do have it installed and it seems capable of doing all the recording and editing you'd need. I think the latest version also supports .ogg directly.
Better news: It has a selection of filters plus a noise generator that should allow you to create 'radio' dialogue as well as 'natural' speech. Another feature , if I've interpreted it correctly, allows you to resample, speed it up, slow it down and piddle about with the pitch. All useful for making several characters from one voice. Does seem to handle mono files at various sample rates - to keep your filesizes down.
Best news: The not-quite-the-latest version is free, at least for us Brits. I got the Microsoft Windows XP - The Official Magazine (DVD) this month for XP SP2 but it also has a selection of sound applications on it, including Dexster 1.0. There is a discount on the latest version as well, if that costs in.
Can't guarantee it'll make it any easier, though!