Beg to differ here.
As long as you do not change bit rates, encoding an MP3 from a wav file, and then going back to Wav from that same MP3 later on will not cause a loss in quality. That is to say, your newly rendered Wav file will be the same quality as your MP3 file, because a Wav file is a photographic image of your MP3.
You can go back to a new MP3 from your second Wav and so on, and there will be no noticeable loss of quality as long as your MP3 bit depth does not drop below 320 KBPS every time you encode back to MP3.
Of course there will eventually be a decay in the audio quality, but you'd have to swap back and forward an unlikely number of times before this happens, and hey ... Who's really gonna sit there and do that anyway? In terms of switching backwards and forwards 3 or 4 times though ... no problem. You just have to choose a bit depth of at least 224 KBPS when encoding each time, but preferably 320 KBPS.
Regards,
Matt
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