You might want to wait a few days....
There has recently been a lot of work on various tuned versions of Vorbis and a quick listening test was just finished.
Quick Vorbis TestThe results should be announced soon, with the winner going to the upcomming 'multi-format' listening test (which will be completed by the end of the month.)
If space is not a concern, then realistically almost any format will be good enough. Once you reach "near cd transparency", it's going to be that quality regardless of the format you use. It just may take a higher bit rate for some formats than for others.
In other words, high bit rate mp3, high(ish) bit rate AAC, MPC, etc. are all going to be "near cd transparent" at whatever setting is needed. You don't have to chose Vorbis to get high quality.
If space isn't an issue, then it doesn't matter too much whether it's 192k or 320k or whatever.
In which case, LAME with -APE (preset extreme) will be good, but just take more bits than other formats. You get portability with nearly every audio program and player in existance.
MPC is good at high rates, but you wont find any support in players. Development is starting again, but don't hold your breath for new versions to come out.
AAC/MP4 is good, but it hasn't been as highly tuned at the higher bit rates as mp3 has. (Meaning Apple's iTunes is more concerned about quality at 128k.) Still, you get good results.
And, going back to Vorbis....
There is a lot to like about it, but until recently there wasn't much activity in improving it.
I'd suggest waiting until the tuned vorbis listening test results are announced, and then actually trying the top one or two versions on the kinds of music you prefer.