Streamripper is a
handy little program that connects to a Shoutcast server, and writes
the mp3s it receives to disk for you to listen to later.

And names them correctly, and sets their id3 tags.

And rebroadcasts the stream locally so you can listen to it while
you record.

Did I mention it runs in Unix, Windows (standalone, or as a Winamp plugin!), OS X and BeOS, and that it’s open-source?

Boy, it’s a good thing disk is cheap.