Can this phone record phone conversations? If so how would you do it?

I was looking for this on my 5800 just a few days ago!

It seems there is no option to record conversations

Unless i am being stupid and didn't spot the option.

You can buy an application called Total Recall which records calls without the beep so the other party don't know you're doing it, and it's not illegal as long as you don't replay it for anyone else.