I read this when the article first came out on /. Just in case anyone doesn't read all the comments, here's how to fix this "feature":
AJV wrote:
Windows Registry Editor Version 5.00

HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\MediaPlayer\Settings\MP3Encoding]
"LowRate"=dword:0001f400

Just change it. The above will change it 128k (from 56k). The UI shows this and reflects it.

I hate quoting from slashdot, and if anyone's offended, I'll delete the comment.
Jason

_~= Dearing =~_
"WAY too happy about having #99."