I know Flac is lossless, but how big a difference is there between these 2? If you don't have $1000+ audio components, will you even notice anything?
You know, I've been curious about this. At RMAF, I went to a talk where John Atkinson generated a "difference track" and played it for us. The track was the difference between an uncompressed piece of music and the same music compressed to 128 kbps MP3. After the talk, I asked him if he had tried it with a higher bitrate and he said that he hadn't, so I decided to try it someday.
For my sample, I took a 1 minute segment of Tchaikovsky's Marche Slave. The segment has a lot of dynamic range, going from very quiet to near peak within the minute. The music was ripped from CD using EAC. I've made the segment available here:
http://0xf2.com/sample.flacNext, I saved the segment as 320 kbps MP3, then converted the MP3 back to uncompressed data.
Then, using a handy tool, Audio DIffMaker from Liberty Instruments
http://www.libinst.com/, I generated a difference track. The result is available here:
http://0xf2.com/difference.flacI wasn't surprised to see that the results were similar to what John Atkinson demonstrated at RMAF. Of course, MP3 is based on the principle of frequency masking -- your brain ignores frequencies that are close together -- so, while the difference track does represent the information that is lost, it may not be audible. Of course, MP3 is based on the frequency masking of the "average" person, so some people may hear more of a difference.
Anyway, I hope that helps.
-Rob