The radiotime/shoutcast url you are trying to download from is http://opml.radiotime.com/Tune.ashx?id=s9118&filter=s and this results in the playlist http://www.abc.net.au/res/streaming/audio-live/shout-mp3/local_sydney.pls being downloaded.
This playlist contains the media url http://live-radio01.mediahubaustralia.com/2LRW/mp3/ which is actually a webpage containing a player and not a media stream that can be directly downloaded. This is what is causing the error.
Try this media url instead: http://abcradiolivehls-lh.akamaihd.net/i/localsydney_1@327264/master.m3u8
Actually my description of what is wrong is incorrect.
The playlist http://www.abc.net.au/res/streaming/audio-live/shout-mp3/local_sydney.pls is has two "version" entries in it and that is what is causing the error.
It should have only one so technically the playlist is invalid. However we have modified the code to handle this corrupted playlist (it looks like all ABC radio playlists have the same corruption in them at the moment). We will have a new build by the end of to day.
In the meantime you can use the url provided above to record from it.
http://abcradiolivehls-lh.akamaihd.net/i/localsydney_1@327264/master.m3u8 works fine here. If it doesnt work for you then you will need to use Jaksta Media Recorder in auto mode and detect the stream that is detected for you when you go the 720 web site.
Do you mean it 'works fine here' when you just click on it? Or are you able to use that link within jaksta radio recorder? When I click the link it plays in VLC player just fine - it only doesn't work in your program.
If it doesnt work for you you will need to get the url using JMR as described or wait until support for those corrupt playlists is released later today.
You can download and install 220.127.116.11 from http://www.jaksta.com/download/windows/jaksta-radio-recorder.
This supports those ABC playlists with two version entries.
The Sydney Institute
The JRR used to work for us but now doesn't. Now and then the recordings get a tick instead of the error alert sign, but those files don't work either (and have a nil duration listed)