I decided that I wanted to integrate my MP3s more into my various stereo systems etc., and that this would require -- especially in the case of classical and jazz recordings -- a better quality encoding. And I also figured that I had plenty of HD space and that someday I may want to re-encode all my files without re-ripping the CDs. So, I re-encoded all my CDs at 320 kbps, using iTunes.
About 2/3 of my MP3s are 320 kbps @ stereo 44.1 kHz is about 1/4 the size of the original. So these still take up a good amount of space: 6929 songs (500 albums, 655 artists*) at 48GB (covering 18 days, 6 hours).
I think I am going to use the QCast Tuner to get MP3s into my main entertainment center, through the PS2 (all I really need is a good remote control
[* Compilations have more than one artist, and some albums cover more than one disc.]