Mass .WAV compression utility?


I've got over 500 gigs of .wav files ripped in a nice orderly directory/file structure on a server like:

[Drive:]\My Music\[Artist]\[Album]\[TrkNo]-[Title].wav

I tend to use iTunes for playback off my Mac Mini and foobar 2000 for my WinXP boxes. While you can't "tag" a .wav, there is a nice Applescript I can run in iTunes, and masstagger in foobar, to allow me to build databases inside each program that recover tag information from the directory structure.

Now I want to create a shadow directory of everything in mp3 or aac format for portable use. All the mp3s I've made have been with EAC calling LAME as an external function when the disk was getting ripped. So, my question is...

...Does anyone know of a utility to mass convert .wavs to .mp3s, and either echo the directory structure on output or convert existing directory structure info into mp3 tags?
edesilva
Kennyt-

Thanks, but I figured out what the problem was. If I log into the server before starting iTunes, the "!"s don't appear. Its only if iTunes starts before its logged into the server. I started AAC compression of all the files last night at about 7PM, and I figure it will take about 3-4 days to convert all 15000 songs. I don't think I've ever had a computer processing anything for 85 hours straight...
Ed,

I am curious how long it took...

I am now 2-3 weeks into burning my music collection onto a new SATA 400 G HD in AIFF with error correction (would've have been done by now without..)

I am up to up to the P's.... excluding an entire CD book of compilations..

Ken
The ripping to .wav files took months. The mac just finished converting the .wav files to .aac--took about 100 hours...