Sue,
If you mean does it affect chip data recording, from what I read about airplane mode (see
http://en.wikipedia.org/wiki/Airplane_mode ) is that it is only an operation that effects actual transmission of signals to a cell tower/receiver. All other operations of the device still work, meaning all your keystrokes, software commands, photos and videos would still be stored in the devices buffer/storage memory. Since it is only transmission that is denied to the device, reception of Satellite GPS signals would still be recorded since that is a reception function not a transmit one(if the particular phone has the app for that).
Hopefully the PIM/SIM data identifying the owner can also be recovered so any last messages can be passed on to the owner's family after criminal forensics has had a view of the data on each device.
Update: Erin revisited the story tonight and the forensic computer expert said they could retrieve info from all types of devices except - iPhones and other Apple products because they encrypt the data that is stored in the device. But, he said, with Apple's help that obstacle could be overcome.