http://www.zuneboards.com/forums/tec...ec-choice.html
My new preference is to use tak for archival purposes, i.e. CD images with the rest of the trimmings thrown into a 7zip then burnt to DVD+R, never have to rip again.
For lossy use, I currently use the Nero AAC 1.3.3.0 codec as one Lame Mp3 developer put it, "AAC-LC is what MP3 should have been", plus it provides homogeneous results at -Q 0.55 VBR.
Not to mention I don't run into the Lame Mp3 problem samples.
EDIT: Might want to look into lossy.wav on HydrogenAudio as it can be combined with some Lossless codecs to produce a Lossy file that can be transcoded without loss (depending on the setting), but it can also be used with the portable setting to produce lossless codec files the size of lossy files, albeit they are not lossless.