Help needed with 2 way phone conversation recording .

Leopard on iMac .
I want to be able to record two way phone conversations and turn them into a web linked format
It would be good to get the levels right . Im I right in thinking Audio Hijack pro is going to be some help ??

Perhaps I should add to this a bit about modem receivers .

Has anyone used one with mac and had experience of phone recording and editing for teaching languages ?

At the risk of this looking like a spam troll , keyword search looks like it's worth a try .
Phone modems for mac
Recoding two way calls on mac
Modem suitable for mac phone recording
Recording voice on mac
Phone recording with Mac
Two way Telephone recording