128 is the lowest that is considered to be good for music, 128 is the defacto standard for web streaming so that most users can still be able to listen without dropoouts due to connection speeds.

That said, higher than 128 is going to sound much better, of course, so selection of high bitrates should be determined by your end use. For example, many song-sharing sites will only accept 128, so if that is the goal, it is the bitrate you should use. If the use is for something else, such as accompaniment in live performance with an mp3 player or the likes, you can use higher bitrates as desired. Higher the bitrate, the better the sound quality.

When exporting from BB to another program like Audacity, in which you intend to do further editing, sound massaging, etc. it is a very good idea to have BB export as .wav files and not as mp3 files. After all the editing, Audacity can then save that by exporting as an mp3 file at your command, found under the File menu in Audacity, "Export as mp3..."

To change the bitrate for mp3 export in Audacity, the command is found under the Preferences or Prefs and once set, will stay at your selected bitrate for all future mp3 exports until such time as you revisit and change the settings.

--Mac