On a Mac OSX the tracks on a music cd are listed as AIFF and on MS Windows it's listed as WAV. Both are wrappers of the actual PCM data on the disc.
On a Windows PC, CD tracks are listed as .CDA files. If you try to copy or drag the .CDA files to your hard drive, you will only get a shortcut.
If you download FLAC or AIFF files from a music vendor, they will generally be tagged files with all the metadata. Although AIFF allows for complete metadata tags, if you drag the AIFF files from a CD to the hard drive on your MAC, they won't contain all the tags. If you don't "rip" them, you will still need some kind of tagging program with online database lookup to get and embed the tags.
I too, am not sure what is better about FLAC tags than AIFF tags. I have an AIFF library and all the tags, including the album art, show in various software music players.
However, if you use iTunes to rip to AIFF, by default the album art that is automatically downloaded from the online database is stored in the iTunes database file and not in the song files themselves, and the artwork will be missing in other player applications. When I use iTunes to rip to AIFF, as a second step after ripping, I select all of the songs for that album, then copy and paste the album art in the artwork window. That will then embed the album art within the AIFF files.
Steve