1. Does it display the pipe's data in the console window?
2. It doesn't have the ability to optionally output to a file.

I have done that a while ago. Its now available at https://github.com/Zero3K/connectfusion.

1. Its not supposed to be one file. Its sending chunks to a media player such as MPC-BE via pipe://stdin.
2. I made a branch that has it almost working (it just stops requesting data to send to the player after 2 minutes or so, in the case of some streams, it stops after sending chunks to the player and most streams aren't requesting data because its missing chunked encoding support in the HTTP library that it is using). The branch can be found at https://github.com/Zero3K/Tardsplaya/tree/twitch-fix. I would also like to have the ability to have it buffer multiple streams in one instance finished (the other guy got it to have a bar which shows Stream[1] with no ability to add streams and have them be buffered by it).