QUOTE
Originally posted by CLloyd24
Does loud music compress less well?
No.
How much a track can be compressed using psychoacoustic metods do not depend on the volume of the track.
Some vbr encoders (inluding lame) sometimes spend less bits on music with lower volume, but this does not mean that the music is easier to compress. It will make the track sound worse (though not always noticable).
QUOTE
Originally posted by CLloyd24
would it make sense to use wavgain on the files ( setting them to 89.0 or so) before converting to mp3 in order to reduce file size?
No.
Lowering the volume of the track will only make the track sound worse. You should use lower settings in the encoder instead.