QUOTE(j7n @ Sep 17 2007, 21:31)

Great, I can now encode at least the non-important recordings.
Is WavPack/dns fully compatible with older decoders, in particular Foobar 0.8.3 / decoder 2.3?
Do you recommend exactly 384 kBit/s?
How well WavPack lossy would perform if I decide to transcode to the same format in the future (for example, after cut-n-paste editing)?
The only switch that causes any incompatibility issue is --optimize-mono; if you don't use that then you're fine back to the 4.0 release. Also -hh is not recommended for hardware playback (although Rockbox iPod is the only case where it's ever been a problem). At this point, --dns will not work with correction files (i.e. it's lossy only).
I mentioned 384 because it one of the "standard" bitrates. I like to use them (256, 320, 384, 448, 512, ....) but it's not required (and WavPack lossy doesn't hold them
that close anyway). I also picked that rate as a decent compromise for what you said, but it is all based on how important you feel these are. If really want to make sure there's no audible degradation and think you may re-encode them a few times, then I would go for 512 kbps. For the noisy "non-important" recordings, 320 kbps would probably be fine (assuming they're not recordings of weird electronic noises).
WavPack lossy holds up well to multiple encodings, with
very little additional noise being added after a few generations. I would venture that if you used one of the bitrates I mentioned above, you could re-encode it dozens of times and it would still be better than the quality of the next
lower bitrate. Caveat: I have not tried this with the new --dns option, but see no obvious reason it wouldn't be the same.