Just download Audiograbber (from audiograbber) and the lame DLL file (linked from all lame and most mp3 sites) - and install audiograbber. Pop the Lame DLL in the audiograbber directory and it will appear automagically as an option. When Lame is selected as the encoder of choice, the GUI presents you with parameters relevant to LAME.

Yup - it really is that easy.

You can either go with the options from the menu or use the slider bar for lower to higher quality.