LAME MP3 encoder is the only codec is actually being developed and improved. The outcome of the developement work of the LAME open source community is that LAME outperforms all commercial MP3 encoders as well as other free ones.

LAME gives you good speed, best quality and huge amount of options and flexibility. This is a commandline utility you can setup for use with good quality ripper, such as Exact Audio Copy

Visit our forum if you need help with LAME.