I came across an article in The Minneapolis Star-Tribunee, my home town paper (I'm a Minnesota girl at heart -- transplanted to the better weather of San Diego) which took a look at the two pronunciations of the word "recreation."
The older original definition;
1. refreshment by means of some pastime, agreeable exercise, or the like.
2. a pastime, diversion, exercise, or other resource affording relaxation and enjoyment.
1350–1400; ME recreacioun (< MF recreation) < L recreātiōn- (s. of recreātiō) restoration, recovery, equiv. to recreāt(us) (see recreate ) + -iōn- -ion
1. the act of creating anew.
2. something created anew.
1515–25; re- + creation
The article's author, Heath Sershen, explains that a slight shift in emphasis transforms this word into distinct definitions; however says Sershen, the best way to define recreation might be to blend the two definitions into one: something created anew by means of some pastime, agreeable exercise, or the like.
In other words, recreation is what you do and re-creation is why you do it. So however you say it -- make sure you take the time to do it!