Nero has released a free reference quality MPEG-4 audio codec (decoding and encoding), featuring 2-pass AAC encoding. The command line tool features a decoder which will convert a MPEG-4/3GPP file and output a WAV file in PCM format, and a encoder which does the opposite.
The encoder is already supported by BeLight and support will be added to MeGUI.
The details for the codec:
Compression Ratios ranging from ultra high (58 CDs fit on one!) to High-End Audio (2.5:1), for absolutely perfect audiophile encodings
Crystal Clear, Award Winning Sound Quality at every compression ratio and bit rate!
Support for Embedded Album Art (Covers, Booklets, Lyrics!)
Store Entire Audio Album in a Single .mp4 File with all the Features of an Audio CD embedded inside, but at a fraction of the space!
Reference Quality MPEG-4 Audio Codec
Fully Compatible with the Latest Version of the State-of-the-art MPEG-4 Audio Standard (LC-AAC, HE-AAC and HE-AAC v2)