I know its french and most people won't understand, but bandwidth graphics are self explanatory.
The biggest surprise for me was that bass do not suffer as much as meds and treble when you lower the bitrate.
Anyways , i found this comparison uber helpful and it diserves and a spot in your bookmarks.
I might translate it in near future.
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Comparatif des formats audio FLAC - APE - MP3 - MP3PRO - MPC - OGG - WMA