I want to have all in MP3 and maybe my favourite bands and some special albums in ALAC.
Why do you want to do this? The 256 AAC will sound just as good as the 320 MP3, and you won't have to bother with any other program but iTunes. You're just making a lot of extra work for yourself.
I guess? some people reported that they can , and my ipod 4g did show up on it , or you can rockbox your classic if it doesn't work with media monkey
You can use XLD to convert your files into various formats simultaneously. Create 2 or 3 different libraries and load whichever library you want when you want...to sync your iPod load the MP3...to stream to stereo load your ALAC?
So you could create FLAC, ALAC, and MP3 and put into 3 different folders... here is the link.