Why should a phone call be treated any differently than a letter or email?
Arizona places no restriction on recording phone calls. One may do it with or without consent of the recorded parties.
In my opinion, this makes perfect sense. Assuming positive intent, it helps a person remember details of a conversation they may not recall. I for one cannot recall precisely all details. Perhaps it is a "handicap" of mine. I challenge anyone to recall with perfection a recorded call, including tone of voice, pace, accent, and finally verbiage.
If you have something to hide that would make you embarrassed if it appeared in the newspaper, maybe it shouldn't be said at all.