The AAC format is not as widely supported as MP3, which is why I would recommend ripping your music using the latter - incase you want to use it on another device someday and don't want to go through the process of re-encoding your collection.
As far as iTunes vs other programs for ripping/encoding your CDs, it is my understanding that iTunes doesnt do a great job - the file sizes for equivalent bitrates are larger and/or the sound quality isn't as good.
If file size is your primary concern, rip to mp3 @ 128kb. I suggest you try rip the same track at 128, 192 and 256kb and have a listen to all three - generally people notice a big jump from 128-192 and little to none from 192-256 unless using seriously high end audio gear.Statistics: Posted by Semillon — Sun Feb 10, 2008 9:33 pm
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