.ram is an actual file with data, .rm is the streaming format.(at least as far as I can remember

) When it comes to streaming audio capture, you need to do one of the methods I outlined above. But any file that actually contains the data, in theory can be converted, but when they use all sorts of proprietary code and no one knows exactly how they are piecing it all together, it's kinda difficult to know hot to make software to convert it.
Eitherway, burning to disc is a fine way of doing it, often times it's pretty convenient too.