Transcend claims they can handle 1 million write cycles. You could probably format 10 times a day for the next 250 years or so.
But if you count each recording as a write and each format as a write (which is an oversimplification of what actually happens), you're down to about 137 years. I think it safe to assume that some cells will be subject to premature entropy. So I'd probably round it down to an even 100 years and call it good (which also happens to be the service life estimate I read somewhere for CF cards).
But, if you remove the card each time you format it (for 137 years) that's 499k insertions. That's well beyond the fatigue limit for insertion/removal. The connectors should wear out long before the memory does if you take it out of the recorder every time you read it.