The Wire Tap Studio website says 'Note: Per-application recording is not yet available on MacOS X 10.7 or later. We're working on it!'. I'm on 10.8.4
Audio Hijack Pro is rather costly.
I am only familiar with getting BBC radio from my radio tuner, via a Belkin audio cable into the 'audio in' port.
When you talk about 'streaming audio', how do you do that ?
WireTap Studio - you can record ANY audio with WireTap Studio. I use WireTap Studio frequently (on Mac OS X 10.6 & 10.7) and have never had any problems with it. All that Note means is that right not you can't specifically make it record from one particular app to the exclusion of all others (say if you wanted to record audio from Safari at the same time you are playing audio with iTunes). This comes in handy sometimes but is not critical.
This is more comprehensible for me : you are getting closer to language I understand !
You recommend it for 10.7. I am 10.8.4, and there was an account of someone's Mac constantly crashing with 10.8.
I can see no indication whether it costs or is free. There is reference to 'trial version' on the sidebar, but it is greyed-off.
I worry about downloading software when there are so many accounts of negative effects on Macs, and complications bringing them back to health and uninstalling the disruptive download.
I may be misguided, but I would have greater confidence downloading an app from the App Store. Is there something there you would recommend, as near as possible to GarageBand, but allows single recordings of up to 10hrs + : or is there an app that you could set to start and stop a recording if one is away from home (like my oven !)