Windows Media Recorder allows you to record stream video and audio clips from the Internet and save them to your hard drive. You can play back the clips from your computer without the interruptions inherent to Internet connections, create playlists or burn CDs. More than 50 music videos can be saved on a regular CD. Media clips can be recorded while browsing the Net or from Windows Media Player playlists. The program detects the beginning, the end and names of the media such that multiple clips can be recorded automatically. Version 1.0 supports Microsoft - Windows Media Player video and audio stream formats.
News source: The Digital Resource
Download: Windows Media Recorder 1.0