Little Gazer, Make sure you are using the matched version, and not just redownloading from the Cloud.
The steps you need to follow (from this document) are:
Can I upgrade my previously purchased music to iTunes Plus?
Yes. If you subscribe to iTunes Match, you can download your previously purchased music again in the iTunes Plus format. To do so:
- You need to delete the original DRM song from your library first. Doing this enables you to download the song again in the iTunes Plus format from iTunes in the Cloud.
- Click the Purchased tab in the iTunes Store.
- Click Music.
- Locate the artist of the song you want to upgrade.
- Click the iCloud Download icon next to the song you want to upgrade.
Problem solved. Even though I upgraded to iTunes Match, there was some sort of an error when it was set up. I went back to it and it started over again, failed, and then worked. My purchased music was upgraded to 256 bit rate and I was able to make mp3 versions of all my songs except one. I had to delete a few songs which were still showing 128k, but as soon as I did, iTunes Match displayed the 256k version.