QUOTE(Whelkman @ Aug 12 2007, 04:03)

QUOTE(Lyx @ Aug 11 2007, 22:07)

For "most people", the quality/filesize optimum appears to be at around V5, take or give one.
You need no additional switches.
Not even --vbr-new?
Yes, use --vbr-new, as this is recommended for LAME 3.97, the current recommended compile in the Wiki. In LAME 3.98, --vbr-new will become the default, so can then be retained or omitted with no effect.
I'd agree that
-V5 --vbr-new is considered to be good quality and small size. Most of the differences noticed under blind testing or original versus
-V5 --vbr-new seem to rate as roughly score=4 (perceptible but not annoying).
-V2 --vbr-new was designed to be indistinguishable most of the time under pretty demanding listening conditions (we call this "transparency"), and is essentially the new improved version for what was "--preset standard". It does get forced to waste bits to retain quality because of an inadequacy in the MP3 specification for the highest frequency band, sfb21.
-V3 --vbr-new is also worth a look because it's almost as finely tuned for transparency as -V2, but it over-rides the bit-wasting workaround for the sfb21 problem to occasionally allow more distortion in the top-frequency band which is barely audible in most music anyway. This allows it to save a good deal of bitrate for very little loss in quality.
Personally, as I ALWAYS listen in Album Gain mode (except for a few iTunes+ tracks for which I only have Track Gain) so I've started to scan for Album Gain first (often from a lossless EAC rip) and then encode using foobar2000 with Album Gain pre-applied, outputting the loudness-adjusted audio in 24-bit straight to LAME. This often (not always) tends to reduce the bitrate bloat with -V2 --vbr-new though I'm not sure about whether it reduces bitrate at all with -V3 or -V5 at all (it might do slightly, given the ATH model in LAME).