I was considering perhaps switching to FLAC at one point a while back since I think it is an interesting and useful format, but to be honest I don't really want to deal with the storage space issue at this point in time. FWIW, I've never really put much thought or effort into my occasional encoding before since I was always happy 99% of the time with the --alt-preset standard in 3.90.3 based on the recommendations here at HA.org. The reason it's become more important over the last several weeks is because I plan on buying a portable MP3 player (40GB iRiver or iPod) for my wife as a surprise birthday present since she is always complaining about not being able to listen to music at work. The DVD player we bought a few months ago also supports MP3, and because MP3 support is pretty much universal these days I decided it's simplest to just stick with it for everything. The portable will also be used by both of us in the car a lot which has a decent Pioneer setup, but no MP3 capability there yet obviously (a future upgrade perhaps). For me, I like to listen most often at my PC with the Sennheiser headphones I mentioned, which doesn't help much when it comes to DAE & encoding problems, since even minor ones can stand out pretty well at times (they are truly fantastic headphones IMHO). Plus I find I can be sensitive to them on certain kinds of music (the "warbles" as I call them, and pretty much anything high frequency). Anyways, it's been a ton of work, but I've managed to RIP about half of our CD collection using LAME so far, as well as redo from scratch all the ID3 tags for our entire MP3 collection. That was a mammoth task let me tell you, especially because I generally never bothered fussing around with tags in the past and never really considered them all that important. I usually just deleted them since I always felt folder & file names to be plenty sufficient. But now that I plan to get a portable device as a present I figured I had better do everything right. Anyways, I digress.
To come to the point (yep, there is one!), I was thinking that if the standard preset was good enough most of the time, and the extreme preset was overkill more often than not (but still considered good when needing a safety margin), then perhaps I could find a happy in-between and just use that for everything from now on. Of course, if you folks here don't think that is good idea then perhaps I'll just stick with --preset standard for most stuff, and re-rip with the extreme setting when I encounter problem songs. Kind of a pain, but I suppose worth it if the general consensus is that that's the best way to go. HA.org has always been the best place to find good, honest, trustworthy common sense opinions, and that's why I came out of the shadows to post my question.