Lets say you have a 125cd collection in which you like every single song (doubtful), that's WELL under 80gigs compressed lossless. An 80gig hard-drive is only $40 now days if you find it on sale. In your audio setup, have you spent more for less of a return?
Would you save $40 for an amplifier with half the output? How about save $40 for speakers with half the build quality? Then why save $40 for half the bitrate, and thusly sound clarity in dynamic music?
I have had the best luck using a program called "CDex" to rip cd's to wav, and then using Monkeys Audio program to compress them on "high" compression.
--billyM