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I've had some mixed opinions from my friends about this issue. >>
Please slap some sense into your friends who believe transcoding to a higher bitrate with lossy compression yields better quality. They're the sort of people who are spreading transcoded 320Kbps files from 128Kbps or lower on P2P apps. It's just a pet peeve of mine...
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OK .... I've heard all this. Tell me, what is the best quality file and what is the best quality (small, simple) way to keep it?? >>
For MP3s, do not use any other encoder besides LAME. The developers are most active in its development, and it is being improved all the time. LAME is a command-line based encoder, which means you can compile it for many different platforms, but in order to have a GUI you will need to use a frontend. Among the best for Windows is
RazorLAME. The interface is very easy to use, and straightforward.
The best quality you can get out of MP3 is LAME 3.91 using the command line
--alt-preset insane. This uses 320Kbps CBR, but the quality is superior to anything that MP3 has ever put forth in the audio world. For best filesize/quality and archival use, the command line
--alt-preset standard will almost always yield better quality than 256Kbps CBR files, and will end up in the 200-230Kbps range (depending on the complexity of the music). --r3mix is pretty antiquated, it hasn't been improved since 3.89 because AFAIK r3mix (Roel) got a new job and began working hard so he had little time to work on LAME (sad

). So after Roel was pretty much OOC, a guy named Dibrom started a new line of preset switches under the --alt-preset (formerly known as --dm-preset) switches. You can get a lot of information about these preset switches by opening a command prompt and running lame with the command line
--alt-preset help. --AP switches include settings for VBR, ABR, and CBR. If you need further information, take a visit to the forums at
r3mix.net and
Hydrogenaudio.