320 is the minimum for me (unless I have to play top 40 at a house party, then I can just use whatever since nobody will notice in that environment).
I prefer to do wav, but unless I know I'm going to be playing a very specific set, or type of sound (you know, cause sometimes you start playing tech-house, but switch it up to techno or prog house or something because the crowd needs it) I can't (stupid smallish hard drive on my laptop - although it has a Ferrari branding so who cares, it looks sexy). :)
