I'm against
1 - who know about music usually don't like WMA, in my opinion WMA never reach transparency and Microsoft don't put in public the magic algorythims they use for the compression. (Hate Microsoft).
2 - AAC is very good for 128kb, But MPC (Musepack) is better even if this codec has been developed for high bitrates, MP3 is just outdated, although have much hardware support.
3 - All this codecs are LOSSY, so they always loose quality, always, don't matter if you puch MPC/AAC/MP3 to the limit(320kb or 512kb), they will always loose quality because they are Lossy.
4 - If you want the best quality, you should try FLAC or APE, they are lossless and have the same quality as the CD you rip. EXACTLY the same.
My quality Graph (Best/Worst)
64kb - Mp3Pro/Ogg q0 - Wma and AAC very bad at this bitrate
128KB - MPC/AAC Or Ogg/Wma Pro/Lame
More than 128Kpbs - MPC
If you want to use AAC, use Quicktime codec or Pystel (Free)
HE - AAC - it's still in recent age but is developed for low bitrates.
Hope this help you