It all depends on your hardware and throughput requirements. Suppose

1. I were building for my work laptop (M4 Max, 36GB RAM)

2. I had a batched use cases (transcribing + making action items for all meetings in a day)

I would use the LFM3-Audio-2B for ASR (audio -> text transcript) and then LFM3-1.7B for extracting particular action items and adding them to my tool of choice (Linear, Jira, Notes app, etc).

If you can fine-tune (100+ labeled samples, and a GPU), you likely can fine-tune LFM3-Audio-2B for audio -> action items in a single step.