...I just learned one more tip from another friend:

If you have multiple hosts or guests calling in from remote locations...each person talking on the show should capture a local copy of high-quality audio to a file. This can be done with a portable recorder that has both a line-out (into the computer and Skype) and also the onboard SD Card recording. Alternatively, you could use a virtual audio channel routing software (like Virtual Audio Cable) to capture the same audio signal simultaneously out to Skype's Microphone channel and Audacity's input channel (or other local recording software).

After the show - even if Skype was getting all weird or the quality was bad - you take the high-quality audio files and combine all the audio together (Host A.wav, Host B.wav and "live callers" from the show feed) and combine them all together into a sequencer to mixdown to a high-quality version of the show.

In our case, we would just posthumously replace the live show audio with higher-quality edited version of the show at a later date.

It might be a little extra work...but could be well worth it.