Just a short story about people who "know" they can distinguish MP3's from WAV files in a blind test. A fellow over at EAC support had a Golden Ears friend who could definitely and beyond a doubt distinguish MP3's from WAV's and gladly accepted the opportunity to prove it. So the tester played a series of recorded tracks and asked could he tell which was which. Of course! And in no uncertain terms he proceeded to say "A" was this and "B" was that and so on. When the test was over and the testee had finished with his opinions the tester revealed that all the tracks were MP3's, at 128kBps. The testee never again spoke to the tester.
Moral of the story: do not be too sure until you have actually done the test, "One test is worth a thousand opinions."
And, you may have missed this post above:
"Its imperceptable to my ears--@320kbs, even with the most critical music and my best speakers, Vandersteins + Vanderstein Sub-Woofer. "