What would be the best approach to take in order to achieve a backwards compatible (Windows XP through Windows 7) way to capture sound that is being sent to the speakers on a machine, even if the audio driver doesn't expose the "Stereo Mix" recording device.
For extra points, it would be great if this approach allowed for capturing sound from a single application only (excluding sounds from other apps and Windows itself).
Is writing a loopback audio driver the only solution?