Chilirec is the latest Recorded to hit the internet. It is a Swedish "innovation" that lets you record a number of radio stations. I have tried the service for about 5days now and I have already recorded more than 300.000 songs. Even if the counter is wrong by a factor of x100, it is still amazing. All recorded song can be transfered to my desktop as MP3 files with a perfect id-tag.
If your still hesitate, have a look at this Demo video by Molly McDonnel over at Demogirl.com.