You can't choose the codec with GoogleVoice. I understand they only use G711u.
Voip providers will support different codecs. The standard codec used with the sip protocol is generally G711 which has probably the best sound and requires about an 88 Kbps bandwidth each way. The G729 codec requires only 31.2Kbps each way (send and receive, i.e. 2x the quoted figure).
http://www.cisco.com/en/US/tech/tk652/tk698/technologies_tech_note09186a0080094ae2.shtmlYou can setup your ata to only allow a certain codec but you have to make sure your voip provider supports that codec to the calling locations that you usually call. If you do this you should run some test calls ahead of time to make sure your call is going to go thru when you really want to call.
Voip providers will usually have a FAQ about what codecs they support. CallCentric is one good provider that does support G729.
http://www.callcentric.com/faq/8/100