although not a fan of most of the PAMS stuff,a montage of that particular cut would be good Iain.
regarding mp3 quality,i would say dont encode stereo at anything less than 128kbps minimum.
with mono,you can use half this bit rate (64kbps) and it'll retain the same quality sound.
also,i was testing bitrates with some medium wave recording i had and went down very low with the bit rate to 32kbps and i couldnt tell the difference between 128kbps medium wave and 32kbps medium wave.