Yeah, MP3 is a much better format than WAV. I use Ogg Vorbis.. mind you I don't have a portable MP3 player, and I only know of a Panasonic unit that plays them. Not to mention Ogg Vorbis is open source, and we all know how good things that are open source are .
I think most any program that converts .wav to .mp3 can also to the reverse. I've used Roxio, Nero, CD-R Win, Audio Catalyst and a few others to do conversion.
How about a program to convert .ogg to .mp3?
I found a plethera of utilities on the web. I'm converting backwards because I'm in a pinch for my music to be on CDs....I don't have a MP3 player, so that'* the need for .wavs. Thanks for all the suggestions!