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Originally Posted by kramerica
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I would go with Ogg Vorbis format at -Q3(112kbps vbr) if you want small files that sound great. I myself use -Q2(96kbps VBR) and the sound is good enough.
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I also use OGG Vorbis @ 160k VBR, the sound is hardly to tell the difference from CD
I use CDex to rip from CD, also I have OGG plugin with nero (that makes ogg to audio CD)