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iSonics makes it easy to convert any audio format and CDs to all popular audio formats: MP3, MP2, AAC, FLAC, ALAC, WMA, OGG Vorbis, AC3 and WAV.
It handles Metadata with ease and even enables you to change Metadata including automatically downloading cover pictures.
As a bonus you can import CDs and convert the audio tracks to any audio format including metadata retrieved online.
iSonics is free while in beta.