Limnos,
I believe there are many more posts on this subject under different headings because it is so nebulous. People have posted under "Playback cutting off", "iTunes stops song early", "Gapless Playback errors", "iTunes AAC conversion errors" etc, etc.
Here's a related example:
iTunes 11.1.5 stops song playback early
The AAC conversion issue is more of a secondary problem. We are simply trying to get an mp3 to play all the way through in iTunes. The playback is ending early and skipping to the next song. The mp3 is not corrupted because you can play these same songs all the way through on quicktime, iPhone, or other 3rd party media players. The same track that will not play all the way through on iTunes on my mac, will play perfectly fine when transferred to my iPhone through iTunes.
As a workaround fix, I and other users have attempted to convert the original mp3 files to AAC, as this will sometimes eliminate the playback error. However, the iTunes AAC converter is having issues converting the mp3 file - and is truncating the length. For instance, every track on the album i was converting was converted with a length of 3:09. The CBR setting solution is no longer valid in iTunes 12 as that is no longer an option in preferences.
In trying to present the solution in a more methodical / approachable fashion:
Have not encountered this issues before this version (12.1.2) of iTunes
The playback issue does not affect every song on the album
removing, then re-importing the album / track does not solve issue
mp3 files are playable on iOS devices, quicktime, and 3rd party media players
mp3 files that are pre-existing or ripped from CD are having the same issues
mp3 files that have playback issues are also unable to be converted properly using iTunes AAC conversion tool
mp3 files with issues that are converted with 3rd party conversion tools to AAC, then imported to iTunes will play with no issues
the mp3 files that are having issues are the same that mp3 files that are scanned for gapless playback information every time iTunes is launched
If there are any engineers who are working on the issue, I would be happy to send along the mp3 files in question.
if i had to guess, i think its an issue with the way iTunes 12 is scanning the mp3 file. Whatever it's 'seeing' is causing the gapless playback info to incorrectly end the song early. No idea what happening with the AAC conversion but would guess they are related, as their must be a similar 'reading' of the file for the conversion.
Hope this helps.
-M