For a long time I've been looking for an app that will record streaming internet audio on my Droid. There are lots of apps that can do this for Windows Mobile or for iPhone.
For a long time I didn't think it was even possible for Android. But apparently it IS possible and there is at least one app in the market that can do it.
It's called Radio Rip:
Radio RIP ~ Android Application v2.2 By Spartacus Rex | Multimedia
I've tried it and it does work. It's got some limitations (mp3 streams only - no AAC), but its a good start towards what I'm looking for. What its missing is a timer/scheduler for unattended recording. I've written the developer "Spartacus Rex" but he's pretty close lipped about it. All I got out of him was "maybe soon".
As far as I can tell recording streaming audio is undocumented in the Android SDK (please correct me if I'm wrong.) If Spartacus Rex has figured it out, I wonder if anyone else around here knows how to do it?