Bitcartel's iRecordMusic 1.5 is a Universal binary for Intel and PowerPC Macs that is available now.

The update also offers a new feature, the ability to record audio in real-time to MP4 AAC. The updated application is free to registered users.

iRecordMusic lets users record internet music and other audio for playback on an iPod, Mac or other device. It can record broadcasts transmitted in most formats, including RealAudio, Windows Media and QuickTime. It can record multiple streams simultaneously.

The software also lets users schedule recordings with iCal. It costs $24.95, a free demo version is available.