While we're on the topic of preferred MP3 bitrates and whatnot, I might as well throw my own question in here...

What is everyone's opinion on variable bitrate MP3 encoding. Most of my music is encoded with LAME at "alt-preset-standard" (now "V 2"). Recently, I've started encoding at "alt-preset-extreme" (now "V 0"). According to Hydrogenaudio, "alt-standard" and better should be near-lossless quality.

Is this all a bunch of hooey, and I'll be wanting to re-encode everything as lossless when I get my Axioms? Anyone have a clue which frequencies you end up losing when you encode MP3s at these bitrates?