• Nero AAC 3.0.0.4 VBR ::internet :: ‘fast mode’ [for 'fast' mode, see this test].
• Vorbis 1.1 –q 4
• Vorbis Quantum Knot 2005.02.28 based on 1.1, -q4

Edit: comments in blue or yellow are only summuries (and are therefore simplistic). I didn't mention usual vorbis issues, like HF boost or coarseness.
ABC logs are available here.
Samples :
not available anymore
SHORT (and general) CONCLUSIONS
• Nero AAC is less agressive on microdetails samples (no or very limited blurring), but introduces annoying distortions with most microattacks samples. The encoder suffers sometimes from excessive lowpass.
• Vorbis smooths too much small musical asperities (microdetails) at this bitrate. But with stronger details (microattacks), artefacts are less annoying to my ears than with Nero AAC: vorbis adds noise, and only noise, whereas Nero AAC adds some irritating distortions.
• Vorbis QK28 apparently doesn't help at all with this kind of samples.
