Yeah, Audacity and Adobe Audition seem to only work right, if you have certain types of sound cards.
Pamela and such work regardless, and you get pretty good sound quality.
Also, just as a heads up...if you use any sound clips during the discussion, I've found that there's sometimes an echo on the voices of the people you're recording with afterward, but you only hear it on the recording.
Make sure you try that during your test, for future quality purposes.