dBpowerAMP is an audio converter that can convert to and from Wave, MP3 and CD Audio files.
Many additional codecs are available free from their website, covering all major audio formats.
These are an executable file, so you just double click them and they integrate instantly with the application as well.
The music converter works from the Windows Explorer right click menu, from where it provides quick access to single click conversion, and can also display detailed information about your audio files as you hover over them with your mouse.
In the conversion process, you can also choose to change bit rates, making changing the file size as easy as can be.
In addition, you can use the audio CD input feature to extract (rip) files from a CD.
