Try to look up "Exact Audio Copy" and "LAME Encoder" on Google, then dump the inferior WMP. Then you can look down on Heaven
(BTW that is for ripping your CDs for backup) You will find guides on the net as well for setting it up perfect. Takes an hour or so if you have never done it, but you only have to do it once if you save the profile. Making 320 Kbps mp3 using LAME is the best you can get without going for lossless format (takes up a lot more space)
BTW a FAQ is slowly being considered, but since the site De*als with so many issues it would be too long.
The Sticky threads in "Limewire Tips and Tricks" forum are a good start