I don't get what the point would be of a hoax, which is why I'm reasonably certain the recording is real. If it's fake, what exactly are they selling? Nobody forks over a few hundred grand for that without verifying it first, so if there is a scam being played, it's a remarkably stupid one.
It also passes the plausibility test. Does anyone really find it unbelievable that Rob Ford might smoke crack? He's obviously not big on self-control, or on thinking thru the consequences of his actions. The guy just has no credibility, which he has brought upon himself.
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Better educated sadness than oblivious joy.
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