The main window of All2WAV Recorder displays a playing toolbar where you can see your song playing and also the Sound Recorder properties panel that shows the Source and Status of the recording 

Here you can see the Wizard's first window that asks you to choose an action that you want to perform. You may record sound from a media file, URL or from another application 

In the next stept you are being asked to enter the name of the output file and also to choose the quality of the recording