Ogg Vorbis is a completely open, patent-free, professional audio encoding and streaming technology with all the benefits of Open Source. It’s currently one of the best candidate to “mp3 successor”, and its wide increasing support illustrates its qualities and popularity.
This encoder allows to rip CD tracks to Ogg-Vorbis 1.1 files using the Winamp 5 built-in CD ripper (free or pro editions). Resultant files are adjustable through a quality setting (-1.00 to 10.00), although an estimated average bitrate is displayed for information.
More information about the Ogg-Vorbis format on the official project page http://www.vorbis.com/
Ogg-Vorbis files can be natively played by Winamp.
) "Ogg-Vorbis 1.1 encoder - Click to enlarge screenshot")