Instead of Audio Record Wizard you can use free direct sound recording software.

I record "The Click" TV show from BBC. BBC offers this TV show in two formats: Windows Media streaming video as well as Real streaming videos. Windows Media streams are easier to capture, besides you can even use a freeware streaming media recorder. Although I prefer to record videos streams from BBC with commercial WM Recorder or NetTransport.

I don't have any access to channel 4 streaming videos, so I can't help you with it. But you can always test free trial versions of streaming media recorders. WM Recorder + Replay Media Catcher cover most of the recordable stream formats available.

I don't really know whether all the videos at channel 4 are available on the "Download to own" basis. But may be you can buy all the videos you really like.

They have some videos with rental licenses, but i don't know the format of such files as well, besides it is illegal to remove copy-protection from rented files.

You can use screen video capture software to record anything from your screen. In many cases alternative software like streaming media recorders will give you better quality and/or smaller files.