I don't know for sure, but I think MacPain is right. 128kbps means that the file requires 128,000 bits for every second of audio. That's 16,000 bytes for every second. 160kbps means 160,000 bits (or 20,000 bytes) of hard drive space for every second of audio. Shouldn't matter what format, codec or whatever, "the kbps don't lie."
For a 3 minute 128kbps song:
3 minutes = 180 seconds
128kbps = 128,000
bits per second = 16,000
bytes per second
180seconds * 16,000 bytes/second = 2,880,000 bytes = 2.8MB.
Which is about what you would expect for a 3-minute 128kbps mp3.
After reading Apple's spiel on AAC I was under the impression that AAC gives you smaller file sizes because its advanced compression techniques result in you being able to record at lower bitrates and still have an audio file that sounds as good as an mp3 that was recorded at a higher bitrate.
So says Apple: (
http://www.apple.com/mpeg4/aac/)
"AAC compressed audio at 128 kbps (stereo) has been judged by expert listeners to be 'indistinguishable' from the original uncompressed audio source.
"AAC compressed audio at 96 kbps generally exceeded the quality of MP3 compressed audio at 128 kbps. AAC at 128 kbps provides significantly superior performance than does MP3 at 128 kbps.
"AAC was the only Internet audio codec evaluated in the range Excellent at 64 kbps for all of the audio items tested in EBU listening tests."
So, extrapolating and guessing quite roughly, all those people that say that a 128kbps mp3 is just dandy should think that a 64kbps aac song is just as dandy.
Those people who think they need 160 or 192kbps mp3's should think a 96kbps aac audio file does just as good of a job.
And all those audiophiles that pine for 320kbps mp3's should fall in love with 128kbps aac's which, according to apple, are 'indistinguishable' from the original uncompressed audio source" and are less than half the size of a 320kbps mp3.
So, approximately, if you stick with whatever sound-quality you are used to, using AAC could cut the space your audio files take up in half. That would give you 2,000 songs on a 5GB iPod and 4,000 songs on a 10GB iPod.
How does that 'sound'?