There's 6 executables in the archive, 3 of them in streamer/ directory are the same size.
Looks like a mistake to me

... and I wasn't using FILE=, I will try that now
[Edit] Great.. I started it without arguments, just double clicked on the icon after setting the default tool to streamer2.020 (the one in the streamer/ directory), I went to Preferences, mucked around, then clicked "Cancel", and the whole screen went, fk'd, and rebooted.
[Edit2] I extracted the archive to Ram Disk: again, pointed IBrowse's x-scpls MIME type to streamer2.020 (not the one in the streamer directory), with FILE=%f as the args. .. then clicked on a link on yp.shoutcast.com, streamer loads up (by the way it doesn't force the screen to change to the pubscreen that streamer is running on), then it eats 16 or more meg of memory, and 100% cpu and sits there doing nothing. In my opinion, streamer has always been a poorly written program from day 1. Since the first version, to this latest version, i've never ever ever got it to work properly.