Dragon, but I don't think it will do an automatic convertion. You'd need to play the audio file and then have the program transcribe it using a microphone.
After searching for the best converter for YouTube into MP3, I have found this tool. Maybe its good to share this one. I have here a tool that converts YouTube music into MP3. YouTube]http://www.flockee.com/static/youtube-to-mp3/?title=youtube-to-mp3-converter&category=on-line-tools]YouTube To MP3 Converter[/url] is the best tool as I am searching for the best converter on internet. Its cheap because it 100% free. Also, the instruction is easy. Just paste the URL of the chosen music video and in just a couple of minutes, it will be converted.
Normally we can convert it using MAX software but if the audio is not good enough its a big problem in that software..
But i used to Convert audio to text, audio to text transcribing in transcritpionstar (http://www.transcriptionstar.com) company. hey are putting some $60 to $80 in nature..