DXVU Meter is an ActiveX control that can monitor any audio device configured as a recording source and display the monitored audio levels like a standard VU meter or as an oscilloscope. DXVU Meter is also able to save the monitored audio data to a WAV file, and since it uses a circular (or infinite) buffer, there's no limitation to the amount of audio that can be captured. The interface of the control is fully resizable so that it can fit into any form design. The VU mode also supports vertical and horizontal placement of the bars.
This demo includes a tester application with its source code, which shows how to use the basic features of the control. It also includes full documentation about the properties, methods, and events of the control.