Is it possible to convert raw AAC to MP3? I alot of my cds on my computer, most of them are in mp3 format. Recently I have been using winamp to rip cds to my computer, later I found out that they are in AAC format. I was wondering if there is anyway to convert those files to mp3 becasue I do not have those cds anymore.

Transcoding to mp3 will lead to lower quality. I'd leave the aac files for PC listening and only transcode for portable use. You can use Fobbar2000 or DBpoweramp to convert.