It sucks to do it, but use 128 kbps compression to keep your size down and be done with it. It sounds like ass to anyone that knows what they're listening for, but to the general masses, most people won't even notice the drop in quality.
It is a sad fact in todays ipod age when people can't tell the difference between a shitty mp3 versus something that hasn't been compressed. :(
As for newgrounds being a good place to upload music? Not so much, theres countless other websites probably better suited for music in general if exposure is what you want, but newgrounds does have a pretty nifty setup and rating system, which is probably why people use it.
Unless your goal is to make music for video games, in which case newgrounds might be the best place for it :)
XLBigFatLardo
man thats gotta suck...just listened to your song over there...pretty nice.
Naroghin
Thanks, and thanks. I'll find a way around it. Some fo the stuff won't sound as good but it will be fine.