QUOTE(JadeElephant @ Mar 15 2007, 21:57)

Chances are, you can't hear the difference anyway and are just wasting space. It's preset *extreme* for a reason...
True, true. I often wonder whether people who don't care for file sizes anyway keep using MP3 at the extreme or even insane presets instead of going for lossless. Compatibility to software audio players can't be the main reason due to the two mainly used lossless codecs, FLAC and WavPack, being supported by most software; if not natively, then via easily to install plug-ins. Hardware support wouldn't make the best argument as well, since large files are quite impractical being stored on flash-based players, and they also keep sucking batteries noticeably faster than low-bitrate encodings.
That would mean quality is the main reason. Question is if this really made sense - in practice music can't sound better than transparent, no matter whether it's a -V5 or -V2 thing. The
theoretical quality gain of even higher bitrate settings comes at the costs described above.
Edit: You should never rewrite certain parts of a post without checking them for missing words afterwards.