Hi. I'm converting my wav files to xwm and fuz files. I've noticed that xwmaencode automatically converts at a bitrate of 48000. Is this good or bad?

48000hz is right above the standard for .wav files. Standard CD quality for .wav is 44100hz, while High-Fidelity .wavs would usually be at 96000hz. 48khz is optimal at sound quality + file size, since at Hi-Fi quality, you get gigantic .wav files, so 48000hz helps keeps that file size under control without an overall loss of quality. If you're using MultiXwm, I think it converts it based on the bitrate of the original file. I mix down my own music that I compose at hi-fi quality, so they're converted to 96khz xwms. More than likely, the wav's you're converted were mixed down at 48khz, so that's probably why they're being converted at that bitrate.