The easiest way is just use LameDrop http://www.softpedia.com/get/Multimedia/Audio/Audio-CD-Rippers-Encoders/LamedropXPd.shtml
Drag the track to DROP WAV then drag it to LameDrop, this will save the mp3 to C:\RealBand\DragDrop instantly without all the PG dialogs one after the other.
Right click the LameDrop for settings.

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