I get really angry when I hear or read the words "CD quality" associated with mp3. The possibilities are:
- people just repeat what they hear without testing
- people really don't have an idea of what they're speaking about
- people don't even know what sampling and Shannon theorem is...
If you're interested to detail, you can check this. Or better, rip a dynamic CD such as a classical music CD and test various lossy encoders in their full range of options. You'll easily discover where the loss is.
Don't say no to good music, just use FLAC or another lossless codec of your choice.