What MP3 Quality Output To Use? - 1

I downloaded a youtube to mp3 converter.
Its called 'free youtube to mp3 converter', i normally use websites but needed to downloaded several links at once, so i got this.
However there are several output qualities i can choose from and i'm not sure what one to pick.
I normally listen to my music via my iphone 5 with sub £50 earphones, and normally play my music via bluetooth receiver to some speakers from my iphone or laptop.'
I have tried all the diff qualities with one song 'STILL DRE - DR DRE', and posted the MB next to each different output.
Is there really a big noticeable difference between ANY of these?
some of my songs have like separate bits for the left and right stereo, and i prefer that to having it all mixed in one.here are the different qualities:
LAME INSANE QUALITY (320 Kbit/s, 48 kHz, Joint Stereo) 11.1MB
LAME EXTREME QUALITY (VBR, 48 kHz, Joint Stereo) 8.9MB
LAME STANDARD QUALITY (VBR, 48 kHz, Joint Stereo) 6.9MB
LAME ECONOMY QUALITY (VBR 44.1 kHz, Joint Stereo) 8.8MB
HIGH QUALITY JOINT STEREO (320 Kbit/s, 48 kHz, Stereo) 11.1MB
Old Standard (192 Kbit/s, 44.1 kHz, Stereo) 6.7MB
MP3 Audio Book (32Kbit/s, 44/1 kHz, Mono)

Thanks

Added (1). Thanks, is economy and extreme better than standard?
also can you tell a difference in sound?

LAME encoding is considered the gold standard for MP3 quality. Go with at least the standard quality.

Use Total Video Converter, Which is the best of all because i have tried 100 of converters but TVC gave me the best result in converting anything to anything.
Its free but still if you need a key for it i can provide.

and Convert songs in 320 kbit/s Cause its the best quality in MP3s, others are noisy.

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