Just an FYI
I use Audacity to monitor streaming audio playing on the desktop, then record it. This stopped working recently. Did some research, and found out that alsa-lib-1.1.7-1 has a bug in it. See bug report here:
Went to The Arch Archive
And downloaded and installed alsa-lib-1.1.6-1 and fixed the problem.
So if you are experiencing audio problems, you might want to take this into consideration.