Stereophile is an excellent, unbiased source.

The first two thirds of the article the author uses 128kbps as his test reference............when he ramped it up to 320kbps he really started splitting hairs.
"Given the bigger bit budget at 320kbps, the AAC codec produces a result that may well be indistinguishable from CD for some listeners some of the time with some music........."
TLS guy makes some excellent points about cheap memory doing away with this lossy codec. And sure, a 320 mp3 in many cases may be glaringly obvious on a reference system costing tens of thousands of dollars to some people with some music. I could agree with that.
Hell, why would you play an mp3 on a reference system, right?