Did you notice that the songs in CD and the songs that you have imported from the CD to your computer are different in quality?
My sensitive ears could tell me the difference very clearly.
Therefore, I did some research regarding this....music quality.....

Music quality is being differentiate by its "bit rate". Higher quality music has higher bit rate of course.
Songs or music in "CD" have bit rate of "1411 kbit/s". This is really high.

Who's low then?
Songs that are played by "FM", hitz FM, MY FM, Whatever FM, Anything FM.....They all have a same quality which is "96 kbit/s".

What's the standard quality in bit rate?
I would say "128 kbit/s" because that's the default import settings for iTunes.

Whenever you import songs from CD to your iTunes library, you are actually converting the CD quality which is 1411 kbit/s to 128 kbit/s.
Of course, you can always customise the settings to 320 kbit/s. (That's considered high quality)

What's the advantage of using 128 kbit/s?
In terms of quality, no. However, low quality audio saves you more spaces for your hardisk.
In short, the higher the quality, the more spaces you need.

If you are not so into the quality type, I suggest you use 128 kbit/s.

What if I want high quality but small file size?
If that's the case, I suggest you go for "Variable Bit Rate" (VBR).
While this setting is enabled, your computer will decide a song's bit rate.
As you know, some songs are not necessary to have high bit rate or you will end up having limited disk space.

IMPORT SETTINGS
As I mentioned before, you can customise your import settings, not just bit rate but also file extension (mp3, aac, aif......)
I guess you only knew mp3.
MP3 do gives you a very high quality if you chose the right "encoder".

Encoder is just like your "workers", setting is just a "plan" and you are the "Boss".
You shall decide which workers to use, which plan to apply, and how's the product should look like.

No more worries, I found you the best plan and the best worker!

He is LAME
*Let's give him a round of applause!*

You can download LAME for free!
With LAME, your imported or ripped songs will be in mp3 format. Also, it automatically import your selected songs with VBR settings.
All you got to do is, decide the output folder, select your desire songs to be imported or ripped, and click on the "import" button.

Simple and Clean. Just like ABC, easy as 123, and sing DO-RE-MI.