
Little help here? Anybody?
Take a song that has lots of different sounds going on, at various frequencies if possible, and rip it to each of the formats you want to use with the settings that you plan to use. Listen carefully to each of the copies and figure out which one sounds the best. Base your decision on that.
If you can't tell any difference from the source and the formats, lower the bitrate/quality settings of the files and do the listen test again.
It can take a bit of time, but it's more of a one-time thing. Remember that the person you're ripping the songs for is you, so the final judge is you. The effectiveness of codecs can also vary with the actual content being compressed. If you do it with your own music, you're more likely to find the best one that works.
Finally, you can always compress the files using FLAC. (Or some other lossless codec) This will halve the size of the music files, but they should retain the full quality that they had on the CD.
For ripping under Windows, I use
dbPowerAmp's dMC audio CD input app. It supports (or will support through the download of a codec pack from the website) practically any codec that you'd ever want to use.