I think I figured out what I want to do.
With your help, of course Tom.
Run TWO SHOUTCast servers -> One for streaming to the world, one for myself. The one for me will have a good bitrate (What is considered CD-Quality again? Ah, I can look that up). I'll run Streamripper on the server for me. Boom. I'm streaming to the world and saving the stream as an MP3 at the same time. Just setup two connections with my Shoutcast DSP with 2 diffrent bitrates.
Does that sound logical? I think it is.