As Audacity so easily does, S1 could/should have a feature where you can record what is being played back ("what you hear") through your speakers. This is very handy when you might, say, have found a backing track somewhere like YouTube (that is royalty-free, public domain status) and record it through your DAW for future use instead of having to "rip" it in another step. In particular if you intend to edit/mix it any way through S1 ultimately anyhow (which is what I have done quite nicely with Audacity-recorded audio a few times already)!