Fantastic!
The main reason I bought this app was for recording LPs and minidiscs to my Mac Mini. As far as I can tell it is flawless. I just recorded a 74 minute long minidisc recording of a live concert. After it was done, I found and marked the end of each track, then used the "cut to new file" function and saved each track as a new file. There are many file types to choose from. Every function was fast. My mini has 8 gigs of RAM, which probably helps, but there was no waiting for any processing. The volume adjustment (drag the line between left and right tracks up and down) was perfect for hiding the few seconds of me playing with the line levels at the beginning of the recording.
Worth the money... no doubt about it.
jmcbrew about Amadeus Lite