dBpowerAMP
dB PowerAMP is one of those really useful utilities that once you have, you wonder how you ever did without it. It converts between all the major audio formats (including: WAV, WMA, Ogg Vorbis, and MP3, as well as converting from Real Audio and MP2 compressed WAV files, among others. To convert between these formats, all you have to do is 'Right Click' on the audio file and then click 'Convert To.' You then get all the options you will ever need to use. There are loads of other great features too, including a way to record all your old LP's and tapes onto your PC, and a CD Ripper with CDDB support.
System Requirements:
- MP3, WAV and CDA codecs are installed with the default release, but to get more format options visit Codec Central