I appreciate that this is an open ended question; I'm really looking for some pointers on what to look at next.
I recorded 48 minute conversation into an MP3 at 128kbps. It's a stereo recording with my voice on one channel and the other voice on the other channel.
Playing this MP3 on iTunes results in no problems.
When I do a basic import into Audacity 1.3.13-beta on Windows, it get's utterly distorted. The voice (such as I can make it out) sounds slowed down, but it's completely destroyed by 'electronic vibrations' (for want of a better phrase). By 'slowed down', i mean the pacing of the words that I can vaguely hear seems slow. However, the timescale shows 48m, so it's not truly slowed down.
I'm at something of a loss as to what could be happening here.
Any pointers on what to look for would be most appreciated. Any questions, you may have, please let me know in comments.
UPDATE Turns out it's not the import, it's the playback. I opened up an old project to see if that was the problem and lo and behold! it sounds wrong. I'll investigate further and post the solution when I find it.