http://www.techlogic.ca/r4/product.mv?5+1
http://www.downloadchannel.net/files/absolutemp3recorder/amr.exe Looks like a file mirror, so be kind to the original site and use the mirror for download - not sure if the version is 100% current, size is byte-identical though - and the mirror is WELL FAST.
Absolute MP3 Recorder - actually, it can record to any format you have a record codec for.
Capable of using the soundcard's "loopback" recording - eg. "What U Hear", "Stereo Mix" - or as some cards allow, recording loopback from WAV/MP3 out.
It may be better to try to "rip" the program though, rather than loop it through the soundcard.