The 'save' feature saves from memory or converts from disk ? I'd say from memory since it saves the "current" music.
Hmm. I wonder - if you can't tell the difference, does it really, really matter? I will show you that in this case they are the same, but as you probably won't believe me without seeing the disk rip decoder yourself, we will go the hard way.

So, let us begin.
I was able to locate the decryption (or perhaps just descrambling or decoding) code with UAE by using breakpoints to intercept dos.library Read() calls and examining what happens next in the code. This turned out to be both easy and fruitful, as the program immediately decodes the file after loading. With disassembler I saw a call to subroutine that does some odd bit fiddling with the loaded data. It looked promising so I ran it to completion and the end result was decoded file in the same memory location. Yay! Below is the decoder for your viewing pleasure. It is called with the address of loaded data in registers a0 and a1, and the length of the loaded data in d0.
4005acb8: 48e7 7ff0 41f0 0800 43f1 MVMLE.L #$7ff0,-(A7)
4005acbc: 41f0 0800 43f1 0800 45f9 LEA.L (A0, D0.L*1, $00) == $400cc6e1,A0
4005acc0: 43f1 0800 45f9 4005 f350 LEA.L (A1, D0.L*1, $00) == $400cc6e1,A1
4005acc4: 45f9 4005 f350 47f9 4005 LEA.L $4005f350,A2
4005acca: 47f9 4005 f394 7227 740d LEA.L $4005f394,A3
4005acd0: 7227 740d 760d 2e00 1821 MOVE.L #$00000027,D1
4005acd2: 740d 760d 2e00 1821 1a32 MOVE.L #$0000000d,D2
4005acd4: 760d 2e00 1821 1a32 1800 MOVE.L #$0000000d,D3
4005acd6: 2e00 1821 1a32 1800 1433 MOVE.L D0,D7
4005acd8: 1821 1a32 1800 1433 2800 MOVE.B -(A1),D4
4005acda: 1a32 1800 1433 2800 bb04 MOVE.B (A2, D1.L*1, $00) == $400cc6e1,D5
4005acde: 1433 2800 bb04 1633 3800 MOVE.B (A3, D2.L*1, $00) == $5008cef1,D2
4005ace2: bb04 1633 3800 1104 b902 EOR.B D5,D4
4005ace4: 1633 3800 1104 b902 b903 MOVE.B (A3, D3.L*1, $00) == $40069001,D3
4005ace8: 1104 b902 b903 0202 003f MOVE.B D4,-(A0)
4005acea: b902 b903 0202 003f e40b EOR.B D4,D2
4005acec: b903 0202 003f e40b 1202 EOR.B D4,D3
4005acee: 0202 003f e40b 1202 b701 AND.B #$3f,D2
4005acf2: e40b 1202 b701 5387 66dc LSR.B #$00000002,D3
4005acf4: 1202 b701 5387 66dc 43f9 MOVE.B D2,D1
4005acf6: b701 5387 66dc 43f9 4005 EOR.B D3,D1
4005acf8: 5387 66dc 43f9 4005 f348 SUB.L #$00000001,D7
4005acfa: 66dc 43f9 4005 f348 7200 BNE.B #$ffffffffffffffdc == 4005acd8 (TRUE)
4005acfc: 43f9 4005 f348 7200 740d LEA.L $4005f348,A1
4005ad02: 7200 740d 760d 7800 7a00 MOVE.L #$00000000,D1
4005ad04: 740d 760d 7800 7a00 7c00 MOVE.L #$0000000d,D2
4005ad06: 760d 7800 7a00 7c00 5380 MOVE.L #$0000000d,D3
4005ad08: 7800 7a00 7c00 5380 1c10 MOVE.L #$00000000,D4
4005ad0a: 7a00 7c00 5380 1c10 1e06 MOVE.L #$00000000,D5
4005ad0c: 7c00 5380 1c10 1e06 ccf1 MOVE.L #$00000000,D6
4005ad0e: 5380 1c10 1e06 ccf1 4800 SUB.L #$00000001,D0
4005ad10: 1c10 1e06 ccf1 4800 da06 MOVE.B (A0),D6
4005ad12: 1e06 ccf1 4800 da06 1c32 MOVE.B D6,D7
4005ad14: ccf1 4800 da06 1c32 1800 MULU.W (A1, D4.L*1, $00) == $400d67f4,D6
4005ad18: da06 1c32 1800 5404 bd07 ADD.B D6,D5
4005ad1a: 1c32 1800 5404 bd07 10c7 MOVE.B (A2, D1.L*1, $00) == $400cc6e1,D6
4005ad1e: 5404 bd07 10c7 0204 0006 ADD.B #$00000002,D4
4005ad20: bd07 10c7 0204 0006 1433 EOR.B D6,D7
4005ad22: 10c7 0204 0006 1433 2800 MOVE.B D7,(A0)+
4005ad24: 0204 0006 1433 2800 7c00 AND.B #$06,D4
4005ad28: 1433 2800 7c00 1633 3800 MOVE.B (A3, D2.L*1, $00) == $5008cef1,D2
4005ad2c: 7c00 1633 3800 bf02 bf03 MOVE.L #$00000000,D6
4005ad2e: 1633 3800 bf02 bf03 0202 MOVE.B (A3, D3.L*1, $00) == $40069001,D3
4005ad32: bf02 bf03 0202 003f e40b EOR.B D7,D2
4005ad34: bf03 0202 003f e40b 1202 EOR.B D7,D3
4005ad36: 0202 003f e40b 1202 b701 AND.B #$3f,D2
4005ad3a: e40b 1202 b701 5380 66cc LSR.B #$00000002,D3
4005ad3c: 1202 b701 5380 66cc 7001 MOVE.B D2,D1
4005ad3e: b701 5380 66cc 7001 ba10 EOR.B D3,D1
4005ad40: 5380 66cc 7001 ba10 6702 SUB.L #$00000001,D0
4005ad42: 66cc 7001 ba10 6702 7000 BNE.B #$ffffffffffffffcc == 4005ad10 (TRUE)
4005ad44: 7001 ba10 6702 7000 4cdf MOVE.L #$00000001,D0
4005ad46: ba10 6702 7000 4cdf 0ffe CMP.B (A0),D5
4005ad48: 6702 7000 4cdf 0ffe 4e75 BEQ.B #$00000002 == 4005ad4c (FALSE)
4005ad4a: 7000 4cdf 0ffe 4e75 4e71 MOVE.L #$00000000,D0
4005ad4c: 4cdf 0ffe 4e75 4e71 4eb9 MVMEL.L #$0ffe,(A7)+
4005ad50: 4e75 4e71 4eb9 4005 f3e8 RTS.L
As you can see the code refers to a decoding key at address $4005f350 (attached as file 4005f350). In the same spirit as the venerable Confusion music disk, the key is just program code, not really a separate key at all. But this time the algorithm is much more complex than just basic XOR. I am not sure about the length of the key. Since it is indexed with a byte offset both from beginning and offset 0x44, the total offset should never be more than 0x143. I just dumped 512 bytes of memory and that seems to be enough. Since the key is part of EP code, it is the same for all disks.
Also, there is a small table used for multiplications at $4005f348 (attached as file 4005f348). Based on this saved information, it is possible to write a decoder even without understanding the decoder function at all. Just extract the code and run it on input data using the key and table. I wrote a simple C language emulator for the disassembly above and a CLI frontend to load files, call the decoder and save decoder file. (Attached as unuprough.c, key.h and Makefile). Again, just build it and run it on the encoded module files like this:
make
./unuprough module01.up module02.up ...
The output file name is generated by concatenating strings "mod." and whatever is in the beginning of the decoded file. This works for Protracker mods, but some modules are in different format (AHX at least, perhaps others) and these files will get random file names. Perhaps it is better to decode them one at time and rename the random name manually.
Now that we can decode the disk rips, we can also verify that the files obtained by the "s" command are identical.

P.S. in my earlier message I made a mistake - the encoded file is not shorter than the original, instead it is always 1 byte longer.
P.P.S. I think I just learned something about myself... I'll throw myself at any crazy impulse challenge you post here... and really enjoy that.
