I listen to nothing but mp3's. My Mazda's have come with kenwood mp3 players since 2001 as well so even in the car, it's all mp3.
Anything below 192 bit, I don't waste my time with. 128 is really poor quality, and I can easily tell the difference between it and a cd audio. It sounds tin'y, sibilance is more, less bass, almost muddy etc.
320 is great, but file size is a problem. So I try to get nothing but 192's or around 192. I think it's a good compromise. The difference between 192 to 320, at least to my ears is min.