Actually WMV3 is the same as WMV9:
Code:
WMV1: Windows Media Video 7
WMV2: Windows Media Video 8
WMV3: Windows Media Video 9
WMVA: Windows Media Video Advanced Profile, non-VC-1
WMVC1: Windows Media Video Advanced Profile, VC-1
The only stream recorder I know that can convert audio/video files after capturing them is
Replay AV. It can automate the process slightly, but you will need a comparable amount of time to implement the task anyway.
DivX gives high quality only if you use a 2-pass encoding. Besides when using many options of DivX that increase the quality, it is usually faster to convert to WMV.
And IMHO it is always a good idea to try to convert WMV to WMV, WMA to WMA, DivX to DivX first.
You can also use
screen video capture software instead of stream capturing. I don't really like this method. It has many disadvantages. But if you plan to convert your files after capturing anyway, then it might be a good idea to
capture from screen instead of stream ripping.
You own
WM Recorder, so you may upgrade to the suite that includes
WM Capture screen recorder.