I'm sorry, I'm sure this has been posted before, I just don't seem to be able to find an appropriate answer.
I love the idea of soundflower. I'm just trying to do simple recording of audio streams for learning music. Doesn't have to be great quality.
So I'm starting by just recording the source from itunes, recording with Abelton Live. I set the input and output in the sound system prefs to soundflower 2ch.
I get in level in Live, but when I record, it has this sort of phasing sound, as though it's two audio sources slightly apart.
When I record with tracktion, it sort of ramps up, and then redlines, as though it's a feedback loop.