With the large quantity of audio formats around, it is always good to have a tool like Digital Audio Converter 1.1, which is a powerful converter between different audio formats: WAV, MP3, FLAC, OGG, APE, MPC, TTA, WV or SPX, having its own ID3 Tag editor, so you can generate your own playlists.
You can do conversions in batches, doing various at the same time, simultaneously.