If you record at too low of a bitrate, you will clip off the holosync and make it useless. So it would depend on whether or not you want/need the holosync in using the CD.

My suggestion is to use a "lossless" format (which is available in some "burning" programs on the market today for professional MP3's), and even better than MP3, use WAV if possible (although the files are huge, so space could be a problem). The CD's are done originally in a WAV format, so even at the higher bitrate, you're still going to lose some of the effect of the holosync.