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Well, VBR extreme sounded brilliant since the days of Psytel
My thoughts about AAC in general are as follows: I've always liked the warm (full) sound of MP3 but to me it has always lacked detail. I then tried OGG, and while it sounded more detailed than MP3, it lacked warmth and sounded brittle in comparison. AAC (to my ears) combines the best of both worlds in terms of warmth and detail. This makes AAC my favourite lossy format.
Just my 2 cents.