I'm loocking for a video capturing software...

[jango]

...that supports the following two features:

• on-the-fly mpeg1 or mpeg2 encoding
• you must be able to select an external audio source, for example the line in of my soundblaster

does anybody know such a software?

[jango]

push

*push*

[Batman]

I believe Videowave affords you these capabilities.

Nonethelss, you will require a fast cpu. If you have the "fastest" pc, try divx "on the fly" (its better compression). Otherwise, uncompressed avi recording is recommended, which you can later convert to divx or mpeg. However you will require vast amounts of hdd space to capture uncompressed avi.