I have been looking all over Google for anything that could let me somehow convert .MDT files (some obscure FM music format used in TH01, which requires the MDRV98 driver) to some common format like WAV or PMD (the .M-file format used in TH02-05, which I can open with FMPMD2000 or some Winamp FMP/PMD plugin and then export to WAV), but so far nothing has turned up.
Live-recording Anex86 or Hoot audio with Total Recorder, Audacity, or any other audio-capture software is not the most elegant solution, because sound emulation isn't completely real-time which results in slight lag errors and timing mismatches (as I have already found out when comparing WAV live-captured from Hoot against WAV generated by FMPMD2000 or Winamp).