Have you tried the Total Recorder from High Criteria? Money well spent. $17.95.
Total Recorder records anything!
You can record streaming audio, Mic input, or Line-in input from external devices connected to your PC. The resulting files are saved on your computer's hard-drive. The system also allows users to schedule any number of future recordings!
http://www.highcriteria.com/I use the standard edition...it is all I need. I have had it for years. Whenever there is an upgrade, they email me and I download it free. Also, I have lost the registration key a couple times...they have sent it to me via email as soon as I contact them. It records in WAV format, but I use the Windows Audio Converter and/or MusicMatch Juke Box to convert to mp3 or CD format.
Check it out.