Well, firstly, I voted for the last option but then I undoed and put in the first vote...
The reason was that I also coded something similar (my sounder plugin) in some days while it took Patchou 2 months to code it!
My plugin is working almost the same way plus! is doing it.
The only difrence is that it doesnt encode to the mp3 codec...
Well, anyway, good feature Patchou