best way to encode to mp3 on the fly...

Not sure whether to post in this forum or techno filez.....

Anyone got any advice for the best utils for recording direct to mp3 ? Say you want to record a live set, but don't want it as a wav as an intermediate step. What's the best way of doing this ?

I've heard Total Recorder in conjunction with LAME might work......

Anyone, anyone.....

wont cool edit pro do this?

I'm not sure....I'm running soundforge 6, but haven't yet found a way of doing it in that.....

wavelab does it .