Hmmm, sometimes yes. But the reason I chose 'standard' was probably for the worse reasons. I only have a 10Gb unit, and my car is shite for listening to music at motorway speeds, so I doubt that in the car I would be able to hear the difference between an mp3 encoded at 96kbps, 320kbps or CD (it's really that bad). Until I address both of those issues, then 'standard' will do because it get's it right most of the time. I might then just re-encode all my mp3 to 320kbps ('insane') and be done with it.
You might want to consider the 'extreme' setting, because then you'll be in that sweetspot of 256kbps, which in blind listening 95% of people won't be able to distinguish from CD using high quality audiophile equipment. It doesn't take up much more space either, so an mp3 using 'standard' might be 7mb, at 'extreme' it would be 8mb, whereas at 'insane' it would be 11mb. But before you set off a batch run, check a couple of test tracks as well in your car, after all that's why you bought the eMpeg