You can buy a 2tb hard drive for about $130.00 or even cheaper if look. Use Google Shopping
The Hitachi one on that list is great. I have it.
I would recommend you rip the CDs losslessly. Then you can easily convert them to whatever format and bitrate you want. I have about a tb of music and I have dbPoweramp. I just right click on the lossless file and convert it. Unfortunately dbPoweramp isn’t free, but it does have a limited free version. There are also other free converters, but for pure convenience, nothing beats dbPoweramp. A close second to dbPoweramp is called Foobar and it IS free
Major lossless formats are FLAC, WMA-Lossless, WavPack, APE, ALAC. TAK is a great new lossless codec but is very new.
Lossless is lossless so it doesn’t matter which one you choose. The difference is how much they compress and how fast they do it.
APE compresses the best, but it decompresses slowly. But if you’re solely worried about disc space, APE is a good choice. WavPack is the best compromise between fast encoding and fast decoding. FLAC is your choice for peer2peer, if you’re into that.
For lossy codecs (meaning you lose some quality in music) it is a personal choice. And it depends on a lot of things. If you use your music through headphones only,
like I do, the bit rate can be a lot lower.
Lossy codecs include mp3, aac (mp4, a4a), wma, Ogg Vorbis.
The most widely used format is mp3, followed by wma, then mp4. (Note: the file extension WMA is use for BOTH WMA-Lossless and WMA-Lossy. The only way to tell if a WMA file is compressed or lossless is by looking at the file size)
Lossy codecs will compress the CD track to about 8% - 15% of the original file size. Whereas lossless codecs compress between 45% and 60% of the original file size.
If you’re going to use mp3, you need to use LAME. Lame makes an mp3 codec that is regarded as the best. There are many different manufacturers of mp3 codecs but Lame comes out the best.
If you go with aac (mp4), NERO makes the best mp4 codec with Apple’s mp4 codec coming in a close second.
So which bit rate? It depends on a lot of things. First of all HOW you compress it. Are you using ABR (average bit rate), CBR (constant bit rate) or VBR (Variable Bit rate)
CBR means that throughout the song, the codec will compress at the same rate regardless.
ABR means the codec will produce the bit rate specified as a sum total average.
VBR means the codec will TRY to produce the specified bitrate but will go above and lower if needed.
For instance, with VBR if you specifiy a bitrate of 200, if part of the song only needs to go as low as 150bitrate to get the result, it will. If it needs 320bitrate to get a part of the song it will go higher.
You see different parts of the song usually need different bitrates. So it’s usually best to use VBR for quality levels and space maximization
What bitrate to use? This is up to you. If you can’t hear the difference it’s your call.
A bit rate of 320 is considered the best quality. You can go higher but you won’t get any more fidelity so it’s a waste of file space. Anything below 128bitrate and you will definately notice problems. For the average listener a bitrate of 192 is sufficent.
Remember a bitrate depends on the type of songs. For the average pop song of today 128 is fine. But if you listen to classical music, you’re gonna have to go much higher. Heavy Metal music is the hardest to shrink. For heavy metal you pretty much have to use 320 because the variations in the music need the entire range.
So you can see it’s not only the bitrate, but the TYPE OF MUSIC and the bitrate.
I love old music from the 40s and since most of it is mono, you can get bitrates as low as 90 and it sounds great. For spoken records (audiobooks for example) a bit rate of 32 is the recommended but anything between 16 and 64 is the usual range)
As a broad general rule a VBR of 192 made with an mp3 encoder made by LAME, is the best overall way to go.
I would also go to HydrogenAudio and look around. They are very nice as long as you don’t mention pirated music. They hate that These people are hardcore audiophiles though. But you can find listening tests made with the various codecs.
I woud also use EAC to rip your CDs. Hydrogenaudio has a setup guide for EAC which is easy to follow. The nice thing about EAC is if you get a good rip, you can be assured it IS good. If it is a rip with issues, you can tell exactly where the problem is.
For file tagging, I recommend mp3Tag
BTW all the programs I used and noted above (with the exception of dbPoweramp) are free