I have two libraries, one for my 80GB iPod and one for playing at home. While my iPod library doesn't fit on my iPod, i can still fit a lot of music on my player.
A) iPod files - AAC 192 VBR
B) Home files and music colleciton archive - Apple Lossless
Why can't you just move the files onto your PC? Ripping takes an awfully long time.
Turn on the error correction, it can take a little longer but will give you more reliable rips. The codec and bit rate are very much personal preferences, but I would go for AAC instead of MP3 unless compatibility with some player (say, a car MP3 deck) was an issue.
I personally use AAC 192KBit. I don't think I can here any difference at that quality, it doesn't take too much space, and I won't think "I should have imported at better quality" two years from now.
Just wondering: Why do you think you have to re-import your CDs? If you already have imported them to a Mac, there are quicker and easier ways to move them to another computer. If you can't set up a network between the computers, the best way is to burn your whole collection on data DVDs or data CDs and import them into iTunes on the other computer; that way you have a backup as well which you should do anyway.