Quicktime 7 and m3u files

I had a sweet thing going with my favorite radio streams. They were streaming in wma format and I could open the streams in Quicktime 7 Pro. Then the radio station changed their streaming to m3u format and now Quicktime 7 won't play them, although it doesn't complain if you give it the m3u URL. What I really want is to use the ability of Quicktime 7 Pro to play it and leave the content already played still in QT7. That way I can select and copy the piece of the broadcast I want out of the current player and paste it into a new player and save it as a mov file. So

1. Should QT7Pro be able to play m3u files. If so, what may be wrong with my set up (QTX can play them).

2. Is there something in the m3u format that tells the playing device that it cannot hang onto the content previously streamed?

Or is my favorite radio station just getting too clever?