Loop Recorder @ J-Walk weBLOG

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Loop Recorder:

I haven't tried this yet, but I will. Loop Recorder lets you capture music from web casts or other streaming sources.

The loop mode infinitely records up to a specified number of minutes in a continuous loop while scrolling the data.

At any time the current data can be previewed and songs can be cut and saved as WAV or MP3-files, while the recording continues in the background. So you can always save the recently played songs.