So, I had this problem one time..
I needed to record the sound that’s coming out from my ESI Juli@ sound card. I tried many different applications, but as you might have guessed – no luck was met.
However, the problem is now solved as my friend has recently recommended me “PolderbitS” Sound Recorder which he’s been using for ages now. I must say – it works!

Get your version here: http://www.polderbits.com/
