There are arguments that given the current algorithms used in compressed music that 320kbps is almost indistinguishable from the uncompressed track. Witness the amount of quality in MPEG-4 video files vice MPEG-2, which only several years back was the DVD standard.
That said, I'm a purist and rip only in Apple/WMA lossless. It may be arguable that I can't tell the difference between those an 320kbps files, but I don't like "throwing away bits".
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