MP3 Pro

I haven't had this problem until now everytime I save a file to MP3 now on Cool Edit it changes it to 56Kbps and 24KHz I used to be able to save MP3s at 44.1KHz and a higher Kbps I wanna get high quality MP3s like 320Kbps at least 120Kbps but 56Kbps sounds so crappy...

Older versions of the program only had a trial version of the mp3 encoder which allowed you to encode 30 files before disabling itself. It sounds like you've reverted to the built-in Windows encoder which will only save low bit rate mp3's. I'd download a copy of LAME which, in my opinion, sounds much better than the Fraunhofer encoder included with Cool Edit Pro/Audition.

Cheers

James.