When I was a kid, I used to enjoy recording music from Jewish radio programs onto cassette tapes (remember those?). Nowadays the process is much easier, as many portable music players include an FM tuner and the ability to record straight into a digital audio file. With internet broadcasting it can be taken to a new level, using software to automatically record the songs, split them into individual files, and tag them with the appropriate names.
It seems that doing this is actually permitted (to some degree) under American law (see here), but I was wondering whether there is any halachic or perhaps "yashrus" objection to doing so, especially in light of music producers' ongoing struggle to prevent illegal file copying.