Extract Audio From Video Using VLC?

[gohanrage]

VLC has this option called Convert/Save or CTRL+R

When I used it on a FLV file to get the Audio in MP3 It had an .ps extension. Windows 7 didn't know what to do with it. I manually gave it a .mp3 extension but afterwards VLC refused to play the file. What am I doing Wrong?

If you give me a Piece of Code I will not know what to do with it. I don't know now to program software. But using the User Interface I should be able to do it if I am given steps.