The 88 recorded the song, Love is the Thing, with a few tricks: to make sure the drums didn't overpower the iPhone speaker, they covered the drums with a sheet and uses brushes instead of drumsticks to deaden the sound. Four Track records at 16 bits and 44.1 kHz and can make unlimited-length tracks. The band recorded 14 separate tracks, including various guitars, vocals, and effects, and combined them on a Mac for the final mix.
The band documented the process in more detail on their website. The song sounds great quality-wise and is now available in the iTunes Store for $0.99, and Four Track is in the App Store for $9.99.