I'm familiar with the problem. MMC 9.06 and 9.06 will both capture in
stereo (NTSC), but they sometimes forget to retain the stereo setting. When
that happens, set the audio to sap, or both, or anything other than "stereo"
or "mono." Then, you can set the audio to stereo.
Another problem is that capture (at least on the ATI Wonder Pro) sometime
occurs using half duplex rather than high resolution, despite a high
resolution setting. I'm not sure yet, but the problem seems to occur most
often if you open MMC's tv applet, then browse and then start to record,
regardless of whether you have shut IE down before starting to record. To
clear this error, close IE (if not already closed), close MMC, and then
reopen MMC.