How to record MP3s from the Radio--
This can be done in a few easy steps. In my example I'm going to use MusicMatch, as that is what I have used. Other "rippers" may be able to do this as well.
Step 1. Connect your radio reciever output to the line-in port of your PC sound card. (Composite to 1/8" mini jack)
Step 2. Open your sound control panel, check to recording properties, and make certain line-in is selected. I suggest adjusting the input bar to about 60-70%
Step 3. Open MusicMatch Jukebox. Click the Options menu. Go to Recorder, then Setting. At the bottom of the screen is a drop down list. By default your CD drive will be selected. Drop it down and select Line-In. (note this only works with V7.1 PLUS, not standard. I believe it was availible with older versions.
Step 4. Record a test song. Adjust your levels in the sound control panel. You may want to adjust the volume of your stereo reciever first.
Step 5. Wait for your song and record it.
Step 6. Clean the song up using a sound editor. Many editors will edit MP3s. I use the sound editor that comes with the NERO CD burning software.
This requires a little bit of setup and adjustment (to get the levels right). Make sure you use good cables to prevent hiss or buzzing. Over all it's an easy and fun project. You can also use this method to record your LPs as well.