iPad Voice Recognition?

This post is a query to other users: what has your experience been using voice recognition software as a tool for taking notes into your iPad, ideally in a way that can then be merged into a Word document? 

I've been using Dragon Naturally Speaking to take notes into my PC, which I love, but I'd love it even more if I could do it with my iPad.  The iPad has good voice recognition for email, so I assumed there must be a similar program for a word processing document.  I asked our IT director about it, and he was leery; he said the voice recognition in the iPad is really just "Siri," and not all that great.

So I thought I'd crowd-source a bit here.  What have your experiences with iPad voice recognition been like?  Can you integrate easily with MS Word and other word processing programs?  Looking forward to your suggestions!

--Erin