Dealing with .ape music files

People are starting to post files using .ape, a lossless data compression format. Thus I need to find ways to handle these files. My goal is always converting all these files to mp3 format so that I can enjoy them during my commute using my hard disk mp3 player.

Here's what I do:
Step 1: Run foobar 2000, drag and drop the .ape file in the UI. Right click on the .ape file and choose convert. On the popup Window, choose the .wav file format.
Step 2: Now you have the decompressed .wav file, you should copy the .cue file to the location where .wav is located. Drag and drop that .cue file in foobar 2000 again. This time select all the individual files and then right click. Once again, convert all files into .wav.
Step 3: Finally, use dbpowerAMP Music Converter to convert each file into .mp3.

I am pretty sure that there are some better ways to do the conversion, but since I have tons of other things to do, thus don’t have much time to do research. Also I don’t have a lot of .ape files, and I always settle with ways that does the job in OK fashion. So here you go.

BTW, please let me know if you can find a better way to do the job.