So you bought the same PDA which I bought.
Answers to your problems are with me. First of all to use your pda as a modem you should use internet sharing feature which is in programs. As far as voice recording is concerned, for that you can download a software named RJV Sound recorder for pocket PCs. This PDA is really a good one as no other PDA is available or such a low price. And a good news for people who are planning to buy this phone, just wait for 10 days and p3400 is going to be launched with windows mobile 6.0.
Some times you feel as WiFi should be there but at such a low cost I think whatever this PDA is offering is sufficient.
And shantanu, if in near future you want to get any information then feel free to contact me as I have done a lot of R&D on this PDA and I have all the softwares for it with me.I can assure you that except WiFi, You can have every thing on this PDA which you can have on a PC. beginning right from a phone , upto a C# development IDE.