The developers of Audio Evolution Mobile and USB Audio Recorder recently released this Audio player which is meant to be hooked up to a USB Sound card to get as good sound as possible from your Android device when listening to music.
So if you are using your device for listening to a lot of music and have a USB Sound Card this could be a interesting application to have as it will give you the same quality sound that your Sound card offers.
Playstore link:
USB Audio Player PRO

This is interesting as in this way he almost doubled his battery time on his device...

Link to EiP Studio-
http://eipso.com/

Have been on a week of vacation with some friends and our respective families and we took some hours out of our busy schedules to test out this setup.
So what have been used is the two applications Audio Evolution and the USB Audio Recorder OTG USB Cable and one USB Soundcard ( M-Audio Fast Tracker 2 ).
There is some faults of mine regarding the sound- 
The guitar got recorded with a direct line and the trombone and ukelele was recorded with a Shure SM 48 a Dynamic microphone. ( The telephone being used was a Samsung Galaxy S3 ).
So directly there is a disparity in the recording as the guitar have no natural ambience in its sound as do the other two instruments also to record natural instruments with a dynamic microphone is in general a bad idea. ( but you use what you have, right? ).
The only production on the recording was the Audio Evolutions built in effects- 
Which was some reverb on the guitar and some compression and a little bit more reverb on the master track to make the things gel together a little bit.
So here is the recording.

So my impression have been mixed about this. There was some problems that was annoying.
Recorded the guitar without no problems but when it was time to record the ukelele it got buggy and did not want to record so in the end had to mixdown the guitar to a wav file and start a new project in the Audio Evolution app and then it was not any problems with the recording but got some other problems like it seemed that there was an auto gain feature being activated even though it was not supposed to be and could not get any control over the input volume ( which I had recording the guitar ).
So what happened was that the trombone got distorted and being on some kind buggy auto gain it did not matter how far the microphone got placed except weirder sound because of the room ambience...
It also crashed a couple of times.
Yes it did feel unstable.
But...
To be honest the Audio Recorder PRO is still in BETA and what the developer have accomplished even with these problems are truly remarkable as with some patience and a better microphone you have a very portable studio as the USB Sound Card uses the battery of your device and this without latency and depending on SoundCard up to 24 Bit sound with direct monitoring of your audio signal. 
I can not say yet and will have to record some more but as I have recorded my guitar many times into the same Sound card into the P.C and it does sound the same to me.
So if you have a USB Sound Card and a OTG USB cable and a telephone that can handle it. 
It is the only way you are going to be able to get a professional recording made with your Android Device.
And if you are not interested in multi track recordings you can use just the USB Audio Recorder PRO for one track recordings. 

So To finish would say that the possibilities this offers is exciting but would not count on it in a critical situation yet.
But for recording in the park or not wanting to bring  a computer for recording or as a backup if your computer breaks down as at least you have the possibilities to continue recording with the same audio quality as your USB Sound Card would allow.

Update-
Spoke to the developer and he said that it sounded strange regarding the auto gain and that he had ran into the same problem also with a Samsung Galaxy S3 and that it is probably the cable that got loose and that things got recorded straight in with the microphone of the phone.
Well that would make sense and had been thinking that it could have been a reason.
Especially because of how much more sensitive the microphone seemed to have gotten when the recording got made with the trombone and not with the Ukulele...
Well in future update there will be a warning built in if the USB cable gets detached.

Frank Malm and the Holy Mountain Boyz


Playstore links:

Audio Evolution Mobile
USB Audio Recorder PRO

This looks more than cool and it is supposed to be compatible with Android...
and best of all as a interface for your other systems too!

So this is a big breakthrough in Android history!
So now the only extensive multi track DAW for Android have gone and broken down some barriers towards having a professional recording studio in your device.

This is what the developer is telling us:
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• Quality: the audio quality of these devices quickly raises far above the built-in mic and A/D and D/A converters of your Android device. You'll be able to record in higher sample rates and higher resolutions when your USB audio interface supports it.
  
• Connectivity: proper XLR inputs with high quality pre-amps, quarter-inch jacks for line inputs (*)
  
• Control input gain: almost all USB audio devices will let you control the input gain, something which Android lacks completely (*)
  
• Zero-latency monitoring: use zero-input latency hardware monitoring to hear directly what you are recording, also not present on Android. (*)
  
• Lower latency: our USB audio system talks directly to the hardware without the Android audio layer in between
  
• Very low latency jitter: the variation in latency each time you record can be dramatically high using the Android audio system (up to half a second!). With our USB audio system, this jitter is limited to one or a couple of milliseconds)
  
• Multichannel recording: when your Android device is capable enough, you can even record more than two channels at the same time if your USB audio interface has more than two inputs.
  

Note that some features like multichannel and 24-bit recording are only possible on certain Android configurations. Please read the section on compatibility for further information.

(*) = When the USB audio interface supports it
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The developer has implemented his own USB audio code to make this work on Android devices.
But (there is always a butt) there is of course prerequisites that have to be fulfilled if you are interested...
First of all you would need both Audio evolution Mobile and USB Audio recorder PRO installed.

Secondly you would need the obvious- a USB Audio interface

A telephone that can accept OTG USB cable.

And again from the developer-
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• Some Android devices have USB host, but lack certain kernel features that are needed for USB audio. These are usually cheap 'Chinese' tablets, but also the Samsung Note 1 and Galaxy S2 lack it. When your device has a Rockchip cpu inside, chances are very high it will not work. Basic rule of thumb is that if your Android tablet is under 200 euro, it probably is not going to work.
  
• Power: some USB audio devices require a lot of current to run. Most Android devices do not supply more than 100mA, so sometimes you will need a powered USB hub in between to function properly. Note that sometimes, the device is detected without a powered hub, but problems start to appear when starting recording.

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So it may seem like a lot of chuppililupps but if you have these conditions met it seems to me that it is a must have- 
a portable multi track recording studio with high grade audio quality  and low latency for around 10€/$ including both applications!

So in the end it seems that Google is not going to fix the latency issue and other developers like this is finding their own solutions and with Sonoma having worked out hardware solutions and also IK Multimedia being involved in Hardware/Software/Android interactions
we just have to be patient enter into endless Buddha mind and before you know it...

For more information regarding Audio Evolution USB support:

http://www.audio-evolution.com/manual/doku.php?id=usbaudiosupport

Playstore links:
Audio Evolution Mobile
USB Audio Recorder PRO
Developers website

Dont have it so have not tried it- 
but there is a free version to try first if you are curious.

Update-

* Multi-channel recording for devices that expose their inputs as one multichannel stream
* Playback a stereo stream to the first two channels of a multichannel output device
* Much lower cpu usage for playback. Higher buffer sizes should now always work and result in lower cpu usage.
* 24-bit recording could cause buffer overflows on USB 1.1 devices Solved.

Playstore link:
USB Audio Recorder

Dont dare to comment on this as it has not been installed and tested by mhaself, so just going to post the update information, but remember to download the free version first to test it on your device if you are curious. 

* Multi-channel recording for devices that expose their inputs as one multichannel stream
* Playback a stereo stream to the first two channels of a multichannel output device
* Much lower cpu usage for playback. Higher buffer sizes should now always work and result in lower cpu usage.
* 24-bit recording could cause buffer overflows on USB 1.1 devices Solved.

Playstore link:
USB Audio Recorder PRO

Another midi connect video for your viewing pleasure. 
Important to note as he points out that you need a phone that accepts USB host mode.

Soon we will have a true multi track experience for our devices as the most used and professional multi track recorder for android,
will with the help of a USB-OTG cable be able to record with your external USB Audio interface. 
So if you don't have one this is maybe the moment to get one!
The developer Davy Wentzler reports that he the other day 
recorded 18 tracks of 24 bit audio simultaneously through his USB Audio interface 
( a Focusrite 18i6 ) into his tablet a ( Acer Iconia Tab A500 ).
He is using the same code as he has been using for the USB Audio recorder Pro, 
so it is a big list of compatible Audio Interfaces that will work.

Yes soon we will record mighty music anywhere
mix it and produce it with the cleanest audio!
Great times ahead 
and it will be soon so just be a little bit patient.

Frank Malm

Not exactly news, 
but if you are not aware of these possibilities it's pretty good to know.
So if you have any apps that supports midi- 
you should just like in the video below be able to connect your midi keyboard 
and play / record directly into your phone / tablet...
In the video he mentions that the only app he found that is working with midi is one of the piano apps,
 but if you want to step up the game- Caustic is also midi supported...
There must be more midi compliant music apps out there and from now on I will try to pay more attention, 
and if you know of any other ones please let us know in the comments.

According to what I read it is should also be possible to record into your device directly with a USB microphone but it seems doubtful and I don't have USB microphone to try it, 
if anyone have experience with this please leave a comment.

And finally there is another way if you have an USB audio interface you can in some cases depending on phone and your audio interface be able to record directly into your telephone tablet- 
altough being a little bit limited,as it only records one track, 
but at least it will be a good sounding track!

There is three apps that is supposed to do this-
The first one is not supposed to work on any of my devices so I cant try it out but it is for free!
The second one is from the same developer but you need a rooted phone for this to work and then it should work on most devices at least it says that it should work on both my devices,
and it is also for free...
Then finally there is USB Audio Recorder Pro. 
That should work on one of my devices...
As you can tell haven't tried these programs out yet, 
but there will be a purchase very soon of a OTG USB cable and maybe finally there will be rooting of my phone!
Links:
USB audio Recorder (Daniel Sobe)
USB Audio Recorder Root (Daniel Sobe)
USB Audio Recorder Pro

The best of all is that the OTG USB cable is not very expensive from 3-4 $/€ up to around 10 $/€
it seems to be a good thing to have around as it is useful for other connectivity purposes to.
Here is also a small link to a post that the developer Nightradio put up yesterday:

Nightradio on recording sound into phone / Tablet

And finally movie time!