I've been playing with my little file server and GNUMP3d (http://www.gnu.org/software/gnump3d/) and I want to use it's realtime downsampling w/ LAME ability, since my mp3 files are mostly 160-256kbit this pretty much kills my cable line with only 512kbit upload, I'm aiming for something around the 128kbit region so it can atleast handle 3 connections or so without flaking out. The problem with this it the file server doesn't have anything fantastic for processing ability, so instead of bandwidth limitations it might run into cpu limitations.
specs:
2x 200mhz 256kb cache pentium pros
192mb EDO ram
8gig scsi hdd
windows 2000 advanced server.
I heard the LAME 4.xx betas were really fast, personally for encoding I'm using dibrom's 3.90.3 with winlame. Bit of quality loss for speed is alright, but I don't want it sounding like ass for 10 seconds off the encode.