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The software I want would function like streamripper does for Shoutcast, that is, listen to live streams, and save them as some kind of audio format on disk. WMV would be fine for my purposes.

Ah, sorry, that wasn't the bit I thought you were having trouble with. Depending on the exact stream format, mplayer is probably still the answer though: mplayer <mms: URL> -dumpstream -dumpfile <outfile>. Not sure how you tell it to only record for a certain duration though -- I got bored of the manpage after the first forty screens.

Peter