A question about a game rip (recording) I’m doing…

So I’m doing an in-game recording for a Genesis game through an emulator since I can find no other way to rip the music directly. The emulator saves the music as a wav file. This is all fine and good but it just struck me, I don’t know how I should release this recording =/ I’m no player in the lossless battle so I don’t know how lossy and whatnot these tracks really are. Could someone give me some advice as to what kind of mp3 conversion would be good for this?

Here’s a sample bit for those who want to see the details… -1 – chapter 2 start.WAV (http://www.mediafire.com/?k29epoo7i16dx69)

Oh ya I forgot about doing something for that volume level too. Should I just normalize that?

dang it… I was hoping this post would merge 🙁 poot.

In my opinion wav files are actually lossless. I use Dbpoweramp for conversion and ripping (audio cds).
I sometimes prefer wavs from flac.

if you’re using Fusion, which is what i use for the rips i do with the emulator, if you press the backspace button, you can fast forward it for a few seconds, but you’ll still get the audio as normal. you’ll just have to edit the file afterwards. also, press the backspace button again to return the emulator to normal speeds before stopping the recording.

In my opinion wav files are actually lossless. I use Dbpoweramp for conversion and ripping (audio cds).
I sometimes prefer wavs from flac.
Yep, Wav is lossless, not really a matter of opinion there.
And wav has no advantages over Flac. Not for distribution anyway.
Some people think it sounds better because of processing and stuff, but if you prefer that, you can just convert the Flac file back to wav.

More on topic: I use foobar2000 to convert my files to mp3. MP3 V0 is growing in popularity as maximum quality while taking less space than 320kbps constant bitrate.