Well, it works. Sweet! Now I have to make things pretty, and automate it.
I will say one thing though, I've seldom seen a program with so little documentation (basically NONE) available as StreamTranscoder!
I put a fresh Ubuntu install on a spare laptop, plugged a scanner into a USB sound card, and got the basic ices2 -> icecast2 setup going there. I then tested changing stream names by changing the input file (ices2 would watch a file named 'metadata', and in that file is just a single line 'TITLE=Whatever') then issuing the command 'killall -s SIGUSR1 ices2'. And sure enough, the stream name would change. On Winamp! On all my Linux boxes, the program stopped playing or crashed!!! Ouch...
Subsequently found out there is an apparently long-running bug in the Gnome ogg decoder. Gah!
Anyway, today I set up streamTranscoder - and as I mentioned had a heckuva time figuring out how to use it due to NO documentation. I finally figured out that you run it once with no config files, it generates a "default" *input* config file. Edit that file to meet your needs, then run the program again and *then* it generates a default *output* config file that can be edited to suit! Gee, just a line or two on their website or in the help file mentioning that "feature" would make life a lot easier... Online I kept finding suggestions to run the Windows client, then copy the config from there! (I'm not one to go running programs without config files - guess I'm not adventurous enough!

)
Simple as that, my icecast2 server now has two streams - the original ogg, and an mp3 one from the transcoder. And the ID tag propagates through. AND the Linux players don't crash, so the MP3 decoder obviously doesn't have the same bug!
Now I just need to mod my Python script that talks to my PSR-600 and have it update the metadata file whenever a new transmission happens. (So much for using an old scanner for my feeds! Heh...)
Think this is one exercise I'll actually bother to write up a howto for!

It sure has been a royal PITA figuring it out to begin with!