The easiest way (and at least some would argue the best) is to use Chris Myden's settings. Download EAC and LAME, download Myden's program and let it do all the configuration. For an audiophile, I'm sure this takes all the fun out of it, but it allowed me to make excellent rips BEFORE I really knew what I was doing. The more I learn about it, the less I want to change configurations.
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Michael West