Blade sucks?
I don't agree with that! While LAME seems to get generally good reviews, there are some that would say Fraunhofer sucks.
Why doesn't Blade sound good at low (128) bitrates? Because it's the only encoder that doesn't discard high frequency sounds. It shoots for tonal accuracy, which the other encoders don't.
But when you keep those high frequencies, you need more bits to reproduce them. That's why some of you have noticed the really large file sizes in songs that I pass around on here. I use Blade. I recently picked up LAME, to see if I can get more acceptable sounds at the low bitrates for distribution.
Blade is meant for archival purposes, really. Of course, if space is NO consideration, you shouldn't even be thinking mp3 to begin with. But if you want to shave file sizes, and you still want the music to sound good, I haven't found anything better than Blade at 320kbit/sec.
High quality VBR sounds really good to me too, though. I can sometimes hear artifacts in VBR, though. It's rare, but it does happen. But offhand, I can't think of an mp3 encoded with blade at 320kbit/sec in which I could hear artifacts.
Take a look here for an interesting analysis.
http://www.airwindows.com/encoders/index.html