I've set up Replay AV (latest version) to do the following:
  1. Record an audio web stream (windows media)
  2. Split the file every 30 minutes
  3. Convert the file to 64 kbps mp3

Replay AV records the stream to .asf files which seem to be the right length, but when it converts them to mp3 the resulting files are only 713 KB in size and 1:30 (1 minute and 30 seconds) in length.

I've tried doing a 5 minute test recording with the same options, and the converted mp3 file is again 713 KB and 1:30 in length. I've also tried disabling the conversion and doing it manually in Replay Converter and then it works fine.

I think Replay AV is a great application but if the automatic conversion doesn't work, I have no use for it whatsoever.