Video Stream Recording Question (Looking for answers)

[likwid8]

I'm basically looking to capture a live stream onto my computer (HDD). I know there's a few selection of applications out there that can do it, but theirs a catch to what I want to do.

I want to relay the stream, not record it. In other words, I want it to save to my PC so that If i wanted to re-distribute the recorded file (flv/swf/rm/wmv), it would show whats currently playing and not start from the initial recording start time.

Is this possible? If so, how and where can I find this.

[Baldrick]

I'm pretty sure that windows media encoder and also the open source vlc media player can both live stream and save the stream locally.

[likwid8]

I forgot to mention the stream is DRM