From the test conclusions:
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The choosing of a format must depend on two factors: the necessary bitrate and, if desired, the compatibility with sound or dvd players. As far as I know, players only recognize MP3 and WMA, and only some can read OGG or WMA 9.1 Professional.
I don't know what kind of players you have in mind. The iPod recognises AAC in a MP4 container. Is that not the reason you included Nero in the test?
Also no known hardware player recognises WMA Pro.
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So, if we look for compatibility, my recommendation is MP3 Lame 3.97a, for any bitrate (wma also works good at 64 kbps). If, on the other hand, it does not interest the compatibility to us, the most appropriate format at 192 Kbps or higher would be Nero Digital Audio (MP4), whereas at lower bitrates, the best would be WMA 9.1 Professional.
Once again Nero is compatible with iPod.
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I must say I'm not an expert, and I base my recommendations only in the spectrums I've obtained, so I don't know if exist factors on sound’s quality that are not reflected in these spectrums.
The "spectrums" sure are pretty.
As of factors that affect sound quality, here is a start: the looks of the sound spectrum for an artificial waveform have REALLY VERY, VERY LITTLE to do with them.
At the end of the day it is better to trust your own ears and compare how the formats perform on the music you normally listen to. If you use the ABX methodology and get more people to do the same comparison, you can do a statistical analysis to obtain a scientifically valid comparison of formats.
Hydrogenaudio.org is the right place to look for an objective comparison of formats.
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Aside from these formats, others exist that offer a compression totally without losses, although at the expense of very high bitrates, about 450 Kbps. This is the case of APE format and now also of the WMA, which can be obtained without losses if we compressed with Windows Media Player 10, selecting the corresponding option (this format variant is not supported in some players). Actually, it seems that this is not necessary, since the format of Audio Digital Nero already offers a practically perfect compression at 256 Kbps.
Lossless may not be necessary for your needs, but it is very necessary for number of people. You don't mention that the sound information missing after lossy compression is irremediately lost. If you decide to switch format later you would need to retrieve the original sound to take advantage of the new format.