Scientific blind listening tests show that both MP3, and AAC sound nearly 1 to 1 with a CD at a bit rate of 192kbps, and above. AAC only is technically superior to MP3 at bit rates below 128kbps. At 128kbps and above, people could not hear any audible difference between either lossy audio format. I would go with MP3, because it is by far the most widely compatible audio format with audio devices. AAC is not compatible with some MP3 players, and software programs. Also, MP3 is the most preferred audio format that most people like to use.
Also, if you want to have (TRUE) CD quality sound, then I wouldn't use either AAC or MP3. I would rip my CDs into FLAC. (Free lossless audio codec) FLAC is the most popular lossless audio codec, and is the most preferred lossless audio codec among audiophiles. FLAC won't compress music as much as MP3 or AAC, but it will still compress a lossless WAV CD file to about half it's original size with (ZERO) loss in quality. FLAC compresses music like MP3 and AAC, but unlike MP3 and AAC, FLAC does not throw out any digital information from the CD. FLAC when played back, is a true bit for bit, 1 to 1 carbon copy of the CD. This is why FLAC is called a lossless audio codec. MP3 and AAC are called lossy codecs. Even if a person can't really hear a difference between a CD, and a maximum quality 320kbps AAC file or MP3, it doesn't mean that it sounds as good as a CD. A CD is always superior in quality when compared to a lossy MP3 or AAC file.
All lossless audio formats sound 100% identical in sound quality. So WAV, WMA lossless, FLAC, and other lossless audio formats are all the same. It's just that some lossless codecs are capable of compression, while others are not.
Hope this helps!