<< not even 320kbit LAME sounds very good >>
yo...i have a decent system and i can't tell a difference between 320 (or even 256kbps) properly encoded LAME mp3s. It's a fact that LAME at 256 and above does not drop any audible frequencies, but 192 does. I think 192 falls off around 15KHz. 256 makes it to 20khz...have you ever heard a 20khz tone? i sure as hell can't hear it. and if i can, it's extremely faint. stuff like Xing and other is pure crap though. LAME is the way to go.
since getting this system, i have had to delete hundreds of mp3s and re-download the ones i like b/c it shows their weaknesses badly and it sounds terrible. but LAME is sweet