OS2REC supports playing of audio data just recorded from line-in. You say it makes no sense? It makes sense! E.g. if you want to use the Equalizer Plug-In with an external audio source.
To start the recording right click PM123, choose Load..., Record... and follow the dialog. Alternatively choose Load..., URL... and enter an URL of the following style:
record:///[sounddevice][?param1=value1[¶m2=value2[&...]]]
sounddevice is either a device ID (integer number) or a name of a mixer device usually AMPMIXxx. The Device ID 0 is the default MMOS2 sound device.
The parameters below may be used to control the recording parameters.
Parameter Value Default Remarks samp[lerate] Sampling rate in kHz 44100 ch[annels] Number of channels (usually 1 or 2) 2 mono - none - Alias for channels=1 stereo - none - Alias for channels=2 share[d] y[es]|n[o], default: yes yes Using the non-shared mode will also block other mixers from working. in[put] l[ine]|m[ic]|d[igital] line