there's one more bug, which recently appeared:
1. Start playing any shoutcast stream
2. stop the server (system preferences ->squeezecenter->stop server)
3. shoutcast stream keeps playing
4. start the server (system preferences ->squeezecenter->start server)
5. shoutcast pauses playing (while it shouldn't). Pressing on PAUSE resumes shoutcast playing. 
It was not the case for earlier versions of SC, but now it behaves this way which isn't very comfortable.

Settings:

Proxied streaming is NOT turned ON in SC settings.

Further settings:
SqueezeCenter Status
Information on all identified devices connected to SqueezeCenter
 
Library statistics
Total Tracks: 1,460
Total Albums: 125
Total Artists: 51
Total Genres: 29
Total Playing Time: 130:26:50
 
Music Scan Details
Directory Scan   (8  of  8)   Complete  00:00:01
 
SqueezeCenter has finished scanning your music collection.00:00:01
 
SqueezeCenter Information
SqueezeCenter Version: 7.0.1 - 17844 - Mac OS X 10.5.2 (9C7010) - EN - utf8
Server IP address: 192.168.11.3
Perl Version: 5.8.8 darwin-thread-multi-2level
MySQL Version: 5.0.22-standard
Platform Architecture: x86
Hostname: macbook-5.local
Server Port Number: 9000
Total Players Recognized: 1
Cache Folder: /Users/eugened/Library/Caches/SlimServer
Preferences Folder: /Users/eugened/Library/Application Support/SqueezeCenter
Plugin Folders: /Library/PreferencePanes/SqueezeCenter.prefPane/Contents/server/Slim/Plugin, /Users/eugened/Library/Application Support/SqueezeCenter/Plugins, /Library/Application Support/SqueezeCenter/Plugins, /Library/PreferencePanes/SqueezeCenter.prefPane/Contents/server/Plugins
 
Player Information
Name: Eugene's
Model: transporter
Firmware: 40
The IP address for this player is: 192.168.11.2:31418
The ethernet MAC address for this player is: 00:04:20:10:05:5d
Voltage: 113
 
SqueezeCenter Log File
/Users/eugened/Library/Logs/SqueezeCenter/server.log
 
Scanner Log File
/Users/eugened/Library/Logs/SqueezeCenter/scanner.log