QUOTE(dewey1973 @ Feb 7 2007, 21:55)

If I create lossy files for playback, I wouldn't anticipate having to decode the lossless files on a regular basis. I'd have to decode in order to replace a bad CD, transcode to the latest and greatest lossless codec, or switch lossy codecs. I don't see myself doing that very often. Am I missing something?
...hmmm... I don't really know. I am a great fan of OptimFrog myself, but:
- One day, I had to leave for a travel in four hours, so I decided to convert to MP3 a dozen of my favorite albums to have them with me in my DAP. The process couldn't finish in time. Twelve albums, four hours, 1.6ghz Tualatin CPU;
- Sometimes I like to run some other tasks while listening to some tunes on a Sempron 2600+. OFR BestNew eats so much of the CPU power (roughly 30%-50%, but please don't quote me on that) that there are times when I simply have to stop the music;
- One day I thought about scanning all of my music files to apply replaygain tags. A quick calculation made me realize that it would take more than two weeks. I decided I could not do that.
When this kind of issues is not a problem for you, OFR is a very good choice.
I also tried Monkey XH, which I agree would be the best compromise speed/ratio wise (encode/decode 25x on my Athlon64 3500+), but I personally experienced a few issues with it, so I, as one, decided to quit.
Finally, even if you're looking for higher compression ratios, Tak Extra could also be a good choice. Its compression ratio is in the range of OFR Normal and APE High and it offers decoding speed well over 120x on my Athlon64 3500+.