Hi, just to make a point here. MP3, at least where music is concerned, is an old, dead, obsolete format. It is inferior and should not be used except for reference purposes... speech, podcasts, anything that does not require good quality. It still has a function in archiving speech recordings or ancient phonograph recordings... but ripping from LP or CD into MP3 is so last decade.
Most of us now have storage drives ten or even fifty times what was available ten years ago. Even pocket music players can take huge memory cards compared to even a few years ago. If your ripping software can only rip to MP3, well, maybe you need to buy new software! Magix Audio Cleaning Lab is great, and I have used it for many years with good results. It does take practice to use... and I never use the preset remastering functions, I always apply the settings myself.
I keep wav copies of all mastered rips and only convert to flac for my Fiio X5, to save space.
Sorry if I have ruffled feathers here but I used to listen to music in MP3 format, and having heard the difference with wav and flac, I would never go back.