How to: Rip ANY streaming audio in 5 easy steps
I have been using this process for quite a while now, and just realized it may benefit some of you. This is one of the easiest ways to rip content from sites like myspace, soundclick, mp3.com etc. I use this primarily for streaming audio, but it can get you around DRM as well. By that, I mean you can use this method to rip a song limited by DRM. Below is a step by step guide to doing this.
Step 1: Download and install Audacity(completely free sound editor, only 2.1mb) from:
http://audacity.sourceforge.net/download/windows
Step 2: Download the lame.dll mp3 encoder from:
http://www.webhostxpress.net/%7Emitiok/lame-3.96.1.zip and unzip/extract the file to the main folder for audacity.
(if you already have the lame.dll mp3 encoder you can skip this step)
Step 3: Open Audacity and change the recording/audio source to stereo mix(see image below)
Step 4: Press the record button in audacity first, THEN start the song from myspace, soundclick, any other streaming audio site, or any DRM audio file. at this point it will begin recording the audio directly from the output of your soundcard, so you will not have quality loss. When you are finished recording, stop the recording in audacity. NOTE 1: you can select and delete the silence at the beginning and end by using the backspace key. NOTE 2: Default recording is mono, you can change it by going to Edit>Preferences>Audio I/O and changing recording channels to "2 - Stereo"
Image: First, hit the record button

Image: Second, start streaming audio

Image: When recording it should look like this
Step 5: Export your newly ripped song (see image below) if you want to export it in mp3 format it may prompt you and ask where you saved the lame_enc.dll from step 2. By default it will export at 128kbps, you can change this in the Edit>Preferences>File Formats.