RadioTracker is an audio stream recorder, supporting Shoutcast/Icecast MP3 radio stations. It can split songs and tag them automatically.

Many other audio stream recorders can record such web radio stations. For example freeware StreamRipper supports Shoutcast/Icecast audio streams, but it can record not only MP3 streams, but also OGG and AAC streams.

Radiotracker Platinum has a very unique feature:
Radiotracker Platinum's built-in music database provides you with listings of over 80,000 artists and their music. Simply point, click and add your favorite artists and titles to your Wish List. Radiotracker delivers the music you've selected in MP3 format as soon as it is played on any of over 14,000 watched internet radio stations worldwide.
Note that Radiotracker Premium lacks for this feature.

If you need a powerful MP3 search tool, you should try it. Otherwise if you know how to find streaming audio online for free and that is enough for you, stick to a freeware audio stream recorder.