Transcription software for Mac OS X
I did some transcription for TV ads last year and it was just awful. I'd have to listen to the damn thing over and over again (made worse because most streaming video players won't let you pause and back up with any precision). That that's just for a 30 second ad. Transcribing an interview would be hellish.
Software can make it easier.
Mark Frauenfelder also uses Audio Recorder to change the audio from line in to MP3.
Mike Whybark has a home-brew solution using AppleScript and iTunes.
Through the magic of globalization, you can also pay poor people to transcribe the audio for you.
P.S.: The spelling difference between "transcribe" and "transcription" is playing games with my brain.