If you want to use mps, you should have a look at the Thompson mp3 program.
http://www.mp3licensing.com/index.html At 128kbs it is about 1/3 the size of a standard 64kbs mp3 file but at 2x's the quality. This is a very good program and I use it.
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jam on,
Terry
http://imjazzed.homestead.com/Index.html