I'm amazed that dictation software is not more widely used. I have been using Dragon 10 for about three months, and I have found it excellent. I speak with a fairly standard British accent and found voice recognition pretty good straight from the box, and has become better over time. A really useful touch, is that you get extra tips every time you start the software; this allows you to build your knowledge gradually.
A more detailed review (less complimentary) is available here. For the record, I dictated the whole of this post with only a single correction. Current price at Amazon is £39.95
I have no commercial interest in Dragon, or any of Dragon's distributors.