Open up 'Volume control' in windows then follow these steps:
Options ---> Properties
Click 'Recording'
Check either 'What you hear' or 'Stereo Mixer'.
Then click 'OK' and check the above.
Then record!
so in theory if i was working i could leave my computer on then use the timed record mode feature on cool edit, keep bbc radio player running then save it to mp3. cool