I use an older version of the IBM software (now Dragon) and after taking time to set it up it works fine.
However you will need a good headset microphone, I tried several and managed to record the clock ticking and the TV sound! Not to mention the answers to 'she who must be obeyed' questions like - where do you want your coffee? The hardest thing was getting used to talking to the PC and then deleting the 'Damns'.
wiz-king it wasn't the "damns" for me more the "ums and ahhs," so with the help of Mavis Beacon I taught myself to touch type. It probably took longer than teaching my machine to understand my Essex/American/Devon accent but it suits me better. There's something about talking and listening to myself that I find very off-putting.