Noticed that I didn't answer your last question. MusicMatch will convert your MP3 files to wave. By default its conversion is to audio CD quality wave files. If you have any wave editor on your system, it will most likely convert a mono wave file at any sampling rate to a stereo file at 44.1 khz. Problem there is that some editors, when changing the sampling rate also change the speed and pitch (sorta like playing a 33 record at 78).

A program that I've recommended for recording streaming audio from the internet, Total Recorder, will meet all your needs, with the addition of enabling you to convert RealAudio to wave format as well. It's found here:

Total Recorder

and the registration fee is $11.95. With Total Recorder, you merely play your audio file through MusicMatch or any other player while recording through Total Recorder with imput set to 'Software.' Before recording, you'll need to configure for the qulity of recording you want (a simple process). Again, TR won't give you any enhancement of the sound, in fact you'll probably get a small degradation, but I doubt it'll be enough to keep you from learning the songs.

Good luck!