Another direct recording/cutting tool - but with some special aims at recording for offline listening.

Anubis Recorder/Player

This one is aimed at recording weeks or monts of source material (hey disk is cheap yeah?) then using a radio station schedule to select and playback or cut out mp3 segments as podcasts.

So it's really aimed at capturing whole shows - but kind of like MP3DirectCut writ large.

But as you can provide your own text based schedule if your radio station has an accurately timed playlist - or if you make one by scraping a webpage in real time - you could easily cut out music tracks in pristine encoded mp3...