Heres an Update
I am using both Foobar2000 with ABYX Utility.foobar2000: Components Repository - ABX Comparator
Also the Program called WinABX, I downloaded from KikeG's ABX software
With Foobar2000, you can use any format that foobar will play ( FLAC, WAV, ALAC ) vs MP3.
With WinABX, you can use only WAV files. For the Lossless file, I had to convert my FLAC to WAV. And for the Lossy MP3 version, I had to convert the FLAC to MP3 and then convert the MP3 to WAV.
It helps to close your eyes when you listen. If you want to compare sample "A" against "X", just keep your fingers on the letter A and X on your keyboard. You can either click on the program screen, or press the letter on the keyboard. I unchecked "keep playback position when changing track" most of the time.
I thought that having a pair of High-End IEM's would make it easier to pass 14/14 of 256Kbps MP3 vs Lossless. I have been studying the differences now using the M-Audio IE-40 (Triple Driver) IEM, (was using Monster Turbine before).
To my amazement, even though both of these IEM's have a Completely different sound signature, using the IE-40 over the Turbine did not make much easier to hear the differences. It may have been that I was trying to rush through the test.
It is very important that you take your time and not rush. Its normal for me to spend 10-20 mins just to get 1 answer right. The more you listen to the same song over and over, your mind can plays tricks on you. It is critical that I set my earphones down and take a break and walk arround to get the blood flowing again after I get a couple answers right. Also Never Guess., When I think I have chosen the correct answer, I go back and re-listen to verify I am 100% positive. There were a couple times that when I went back to verify that it was right, I had to switch the answers, because my ears and mind were playing with me.