from my testing.. 132k atrac3 is atleast as good as 192kbps mp3, probably more like 256.
I suspected as much, from what I've read concerning atrac/mp3 comparison tests.

I recently purchased a NetMD for portable use on the bus..
For portable use, I opted for an Archos Jukebox 6000 for $200. Not as lite as a solid state unit, but that 6gigs is great
for variety. Plus you can use it as a portable drive. :-)