I don't like "what you hear" because what if the recorder hears something you don't want to record? If you download and use a program called quickmix, which is on the http://www.jfwlite.com web page, you can save and re-load audio settings that you make from the windows controol pannel. That way, you only have to mess around in there once.
I have for example, mike, tape, folk, rock, and mp3 files.Mike is obvious, tape rock and folk use the line input with different volume levels set on the line input, and mp3 records off the wave/mp3 input. I do keep an external synthesizer on window-eyes, because a screen reader's software synthesizer will be recording what the screen reader says on that input. I have also turned off windows sounds for opening and closing programs, because that will be recorded as well. I can use the line input to make my own podcasts from the radio if I want. Now why would I want to?