CEP has a new version avail. 1.2, I think. Anyway, you can download the patch at http://www.syntrillium.com
I use "Blade Encoder," where you just drag the .wav file onto the bladeenc.exe, and it pretty much takes care of the rest. Don't know where I found it--yeah I do... ZDNet, searched under utilities for MP3 converters, then found the highest rated, smallest file available.
Blade enc comes packaged with MPEG Suite which now has a decoder also the decoder is faster than the one in cep by a long way. Check it out at http://ec2000.xperiment.net it also has a couple other encoders like plugger and "ec 98 pick this one for ease of operation its Blade enc in a little freindlier version it will make a good fast mp3 the help file is lacking but you should be able to figure it out