I'm trying compress phone conversations with the best posible quality in about 150kb per minute. I have allready tried razorlame with the "Phone" setting and achieved 115kb per min, but i'm sure there should be something better to do. What should i use? LAME? Vorbis (prefered)? With what settings? Many Thanks.
I would recommend Speex (Open source speach encoder), but it's not finished yet.
You should try speach-oriented encoders, like CELP, or GSM.