You can do it with winamp. I do it all the time. Hear is a not so good example. 
I was doing it on the fly. lol.
http://www.sendspace.com/file/jjs3lg
 look near the bottom of the page for the file. it is an mp3.

SA&G
: Hi all,
: I'm about to start a regular net broadcast show. I've got a question:
: I'm planning to use either Oddcast or the Sam encoders. I have
: Audiostocker doing compression with Winamp 5.33. What can I do to
: lower the volume of the music so I can talk over it? Will oddcast do
: this once the live recording is checked? What about the Sam encoders?
: If not is there a dsp that'll do it? I know the shoutcast 1.8 plug-in
: will do it in the advanced settings, but I'd rather not use it if I
: don't have to. Brandon
: 
: 
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