Ambrosia Software has released WireTap Pro, a well-featured solution that lets Mac users record audio from almost any source.
The software will record audio from running applications, and also from microphones, line-in, headsets and even peripheral devices, such as Griffin's RadioShark. WireTap pro is also capable of recording Internet streaming audio, DVD soundtracks or audio from connected decks.
The software supports MP3, AAC, QuickTime and AIFF. Recordings can be saved directly into iTunes, or onto an iPod or other iTunes-compatible MP3 player. A range of different recording qualities and preferences can be set by the user.
iCal support is built-in, so it's possible to schedule the application to spark up and start recording a stated audio feed when a user isn't around, XFM's Late Show, for example.
The software costs $19. A free trial is available.