can i do this in audio highjack?

[william lomas]

        hi guys

ok
i want o record my mike and system audio. straightforward no? i jsut  
have mike and soundflower as output source, highjack system audio and  
mike and record from system audio
however
i am doing a presentation in french and i am using visio voice in  
french anne, smile, to help me. can i have it without headphones so  
that i can record by speaking to my class and the mike of the mac  
without feedback as no headphones will be worn
will