320k for MP3
256k for WMA
All new stuff is ripped WMA.
I've picked higher rates so that some point X years from now, when all home stereo equipment is wireless, I don't have to worry about re-ripping my old stuff. The high quality file will sound great on my 19.1 hifi.
Having said that, I'm sure that X years from now, all content will be readily available on-line and on-demand, and I'll have needlessly filled up my disks with bloated bitrate files.
I'm also sure that X years form now, my hearing will have deteriorated so much, that a 64k bit rate would be fine.
I'm also sure that X years from now, Microsoft will have abandoned the WMA format for something more proprietary.
But for now I'm content with my far sightedness.