QUOTE(Maurits @ Jun 11 2006, 00:40)

Theoretically Ogg/Vorbis and AAC should sound better because they were developed with the shortcomings of MP3 in mind and have beter ways to tackle known issues.
It may be worth mentionning that all new audio formats really start to be convincing and useful when MP3 reveal obvious failures:
at low bitrate mainly. The collective experience is telling us that LAME -V5 is close to transparency. Therefore, modern formats can't really be convincing in comparison (excepted maybe for people having better listening abilities) simply because there's nothing to improve (excepted on pathologic cases for LAME/MP3).
The choice for AAC, Vorbis and others will become more obvious at lower bitrate, like
96 kbps and less. Ideally, I'd suggest you to try AAC at 112 or even 96 kbps. You may enjoy the quality more than MP3 at this bitrate and therefore spare space. But whether it is really necessary with 60 GB free space entirely depends on your needs.