The LAME encoder is a free, open source product from http://www.mp3dev.org/, packaged by Thalictrum for your convenience. Thalictrum is not the author of this software, but simply provides a pre-built binary for Mac OS X.
What's new in this version:
This is the latest stable release of LAME, built as optimized universal binaries. All included executables will run at native speeds on both PowerPC and Intel based Mac OS X machines. PowerPC code is optimized for G5.