Automated Minutes of Meeting

I hate documenting stuff.
So I was wondering if there is someway of automating the process of writing Minutes of Meeting(MOM). I guess an AMM (Automated Minutes of Meeting)would do the trick. AMM exists in my utopian world and hypothetically will work like this..
1. Voice record the meeting
2. Use a speech recognition system to convert the speech to text
3. Use a learning algorithm to automatically classify the text and give you the Minutes of the Meeting.
wow. 3 steps and I will be able to enjoy meetings :)
So trying to hunt down if there is an integrated system that would help me out, it was disappointing to see that there is currently no good speech to text translation programs available. The ones available give varying accuracy depending on several parameters like background noise, too many voices etc etc. So step 2 is not currently promising and would need some work
Now for step 3, there are quite a few text classification algorithms and models that can be used. I would be interested in using a Bayesian classifier (my fall project involves writing a survey paper on Bayesian classifier)
Oh yeah, AMM not only helps me but journalists, students and many more..