If you want to nab real media, download the .ram file, open it in notepad and get the URL for the .rm file, then download that. That only works if it's a http:// link though.
If it's a real server link (rsstsrtpts:// .. or something ) then you'll need an app like Stream Box Ripper, I think that's the name anyway
It may be worth your while to pop for TotalRecorder, it will record anything you can hear, and for internet streams it also will knock out any momentary pauses. It's really a great program and priced right. It will save as wav or mp3.
i also used totalrecorder but i certainly dont reccomend it. the application installs its own sound drivers which i might add are really bad. most sound cards have a recording option called STEREO MIX basically "record what you hear(as some sb cards)"
i reccommend getting an application such as sound forge, creative recorder, wave lab or cool edit then setting your sound card(from system tray) to record from stereo mix, then use the application u have to record.. this works gud in sound forge or total recorder.
Stream box ripper can also be used but they stopped producing it so good look finding that.
as for video maybe you could get a desktop recording app. then play it and record the activity from your desktop.