AAC or MP3?

Hey everyone,

Most of my songs are in mp3 (192kbps) form. Is there a format that I can convert them to so that there is no quality loss at all? AAC is supposed to be lossless, but in iTunes i found that you can encode it in 128kbps. Yes the file got smaller - but is the quality still the same?

The reason is, if I can get at least 2/3 of my songs under 4gb, i might get an ipod nano. So then again, the file format would have to be supported by an ipod.

Thanks in advance! :sen: