I was having trouble ripping some badly manufactured CDs on my new CD drive, a Sony DW D22A. I think 48x is just too fast, particularly since the CPU can't possibly keep up and so things buffer in weird ways. But slowing the drive down to 12x seems to have fixed things nicely. The rip/encode cycle is just as fast, but it's quieter and more reliable.
AudioGrabber has a bug where you have to open the "Settings" dialog for each rip to have it set the CD speed. And switching from "buffered burst copy" to "unbuffered burst copy" helped reliability with no speed cost.