Converting to MP3 will always result in some loss.

Feedback I've had is that you need to use a higher bitrate than 128. 198 or 256 is going to serve you better. 256 is not accepted by CD players but since it's for the iPod it should be fine. Use VBR rather than AVR and definately avoid CVR when compressing.

The Holosync entrainment is to help you to relax into the listening session easier. The dual voices on the Paraliminal will be perfectly fine. If you keep it to a higher bitrate than 128 (the usual compression) you'll preserve much of the Holosync entrainment and the Paraliminals should work
just fine. They may still use more memory than a presentation or music MP3 but should be less than a wav file.

Alex