RadioLover 1.17 is a US$15 shareware application can record Internet radio streams and save them as separate tracks. Formerly known as StreamRipperX, RadioLover supports iTunes Radio Tuner, Shoutcast, MP3, M3U, and EXTM3U radio stream playlists. The update brings a new scheduler, new recording options, improved file management and a new interface, along with minor enhancements and fixes.
More info and download link here.
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Our Friends at Ambrosia Software have something called Wiretap which is free. Allows you to do the same thing record then you cna convert to any format you want.
For 15 Dollars a great program, RadioLover simply dones what it say’s it will do, and dones it quite well.
Streamripper X. Very nice and free