5star Freetunes

5star Freetunes can legally copy all your DRM protected music, audiobooks, podcasts and video clips by playback from WMA, WMV, M4P, AAC, MP4 and M4V formats into any of the MP3, OGG, WMA or WAV formats. It can convert all of your audio and video data that currently only plays in your iTunes or Windows Media Player.
5star Freetunes converter uses "Audio loop" technology. The sound is played and re-recorded from a soundcard line output.
The software supports batch conversion mode and can convert 1 file  at the same time. Maximum converting speed is 1X, so the program converts in real time. The converted files will still have all of the underlying information the original ones did, such as ID3 tags like Title and Artist.
5star Freetunes settings allow to configure file encoding settings, output folder settings, choose the playback device and recording device from the list etc.

5star Freetunes software requires proper soundcard configuration otherwise the conversion may result in an audio file with no sound at all. The converting speed is extremely low. Program settings are not easy to configure.