Hi Justen,
I honestly can't remember the calculation for Michael's version, but for the version prior to that one, we set it so it could store up to about 70 minutes of audio, and several good hours of proximity. Michael's version is slightly less efficient in terms of memory use, but much more flexible.
Keep in mind that pulling a whole hour of audio data from a badge may take a couple of minutes. It's important to keep a good ratio of base stations (raspberry pis) to badges to make sure they can pull the data fast enough.
Oren