Converting a stream to a local mp3

If you ever need to get a copy of an audio stream broadcast (real etc) as a local file to time delay when you listen to it - say hypothetically that the BBC had just put a radio series online ;)

mplayer rtsp:// -ao pcm -aofile myfile.wav

this produces a very large wav file (about 300Mb per half hour) that can be compressed easily into an mp3 with lame via

lame myfile.wav

this will produce a much smaller (27Mb in my case) perfectly formed mp3 file for you to enjoy.