courtesy of r3mix.net
Facts:
128 kbit/s is not cd quality
256 kbit/s is cd quality (x) (in case of Lame or some Fraunhofer, not Xing)
In february 2000 c't magazin organised a blind listening test. 300 Audiophiles were involved, finalists tested 17 1-min clips from different artists (classic and pop):
original CD recording
128 Kbit/s Joint Stereo [MusicMatch (FhG) v4.4] encoded PC decoded Mac
256 Kbit/s Joint Stereo [MusicMatch (FhG) v4.4] encoded PC decoded Mac
all on cdrs and played in a Recording Studio on:
B&W Nautilus 803, Marantz CD14 with amp PM14 (Straightwire Pro cabling and extra's) [DM30000- so bit more than $15000]
Sennheiser Orpheus Electrostatic Reference-headphones with tweaked accompanying amp (digital and analog out) [>$10000]
Conclusions:
90% of the 128 Kbit material was picked out
MP3@256 was rated to have the same music quality as cd!
If you find MP3@256 to be of inferior quality compared to the original cd, you're very likely to be doing something wrong with the test (correct decoder, no objective double blind testing, DSP filters distorting the process, ...) Maybe this is something for you. You can always read the article in the german c't 6/2000 on p92.
The treshold of mp3 transparency lies somewhere between 128kbit/s and 256kbit/s, depending on the kind of music and your hearing and equipment.