http://jiggafellz.isa-geek.net/eac/
Here's that guide my love. I second sticking with FLAC. I also second batch conversion to mp3 and highly recommend dbPowerAmp for the task. However, I quickly delete anything that I have in FLAC once I've transferred to the "portables". {Seeing as how I'm so damn rich, like you, my "portable" is an mp3 CD.

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And no I'm not going to suggest what to do with your palace full of electronics or your Itunes purchased music. Both of those areas are places I have not ventured.