Capture any audio on your Mac with Audio Hijack
Audio Hijack from Rogue Amoeba is a highly useful OS X utility that allows you to capture any audio from any application on your Mac and save it as an AIFF file. Use it to record internet radio streams, audio streams from other media players such as Real, and more. You can even schedule recording times – no need to babysit your machine while it records your favorite online radio.
The latest version, Audio Hijack 2.2, features "add to iPod" and "Encode to Wav" post-processing functions as well as a new AIFF Sample Rate selector and a "Stop Recording After" setting.
What would you pay for this handy utility? As with many great Mac shareware offerings, it is likely worth far more than its $16 price tag.