Hello,
Basically, you play the CD as you normally would, but before pressing the Play button, you select an output file type with the output selector (below "Output" in the main window where it says "Sound" by default) and set the parameters you want.
Here is an example step-by-step procedure to setup CD ripping to ogg files using the MoreAmp-0.1.27-binWin.zip binary...
2012-04-29 07:47:16 PDT in MoreAmp