Disappointed in Wiretap: I can't say we've ever paid much attention to competing products. But if they're not working properly on Lion, we certainly hope folks will check out our apps. Both Piezo and Audio Hijack Pro work great on Lion - spread the word!

Alex: Glad to hear you like it! As for iOS, there's definitely no way to grab audio from other apps there (and get in the App Store, that is).

AIFF: We may consider a lossless option for the future - we'll have to see. Until then, Audio Hijack Pro is the way to go.

For now, we want recording to be as simple as possible. 256 kbps AAC is very high quality. But we'll see!