If it’s just for personal use then it should be covered by the “fair use” doctrine. Way back in the dark age of cassettes, radio and record makers tried to sue people for making copies of radio shows and their own albums. The courts rules it was fair for the listener to make a duplicate recording – or the more popular mix tape – of records, so long as it was not given or sold to anyone else. Radio lost twice. First in this case and then later with VCRs, which established time-shifting as fair use.

Since Podcasting is simply another delivery system of the same product like satellite or TiVo, it’s unlikely this falls outside of current fair use rules.