From Convert Audio Free:
Encode your ripped WAV files into high-quality, noncorrupt MP3 files so you can store your favorite CDs or share them online. This program gives you the option of creating MP3s at 40-bit rates and three sampling rates and in two channels. Batch-convert unlimited WAV files in the fast and easy WinZip-style interface, and preview them before encoding. Also, encode WAV files into custom file sizes for use with portable MP3 players.
Version 2.5 features minor improvements and bug fixes.