You can use direct sound recording software to record from your sound card. But it really depends on whether you will need to use your sound card during the process of recording or not. Also it is important whether you have Windows or Mac. Another question is do you need to make scheduled recordings or not.

Replay AV (Windows) is one of the programs I can recommend. It can rip internet radio broadcast as well as record from you sound card. Please not that every stream format can be ripped. Replay AV allows to schedule your recordings and even convert them to iPod format.

Another things is that you get Replay Player with Replay AV for free. Replay Player allows you to open recordings, play, pause, increase playback speed, and skip forward or backward in.