The question which plug-in to choose is nowadays answered dependant on the amount of features you're interested in, not the decoding quality, as already stated above. The built-in Nullsoft decoder offers a good amount of features, though it lacks support for APEv2 tags. If your MP3 collection was partially tagged with this format, then the
MAD plug-in is really a good choice. I've been using MAD for a few months now and I'm quite content with it. Especially its advanced file properties dialog is useful to me because it displays the exact format of ID3v2 tags (ISO/UTF) and all custom entries of APEv2. MAD also allows to choose between ID3v2.3 and ID3v2.4 as default tagging scheme, which is very important for compatibility reasons.
There's also
Otachan's in_!mpg123, though I don't know much 'bout its current state. I had tested an older version some time back, but not for long since it opened Windows Explorer when checking a file's properties, which is quite useless for ID3v2.4 and APEv2 tagged MP3s.