Originally Posted by bigshot
I rip to AAC 256 VBR and it's totally transparent. The only difference to me between it and lossless is file size. I always have the CDs themselves as backup, but I'm sure the AAC files will do for me forever.
I'm ripping to LAME mp3, but I also keep the CDs as a backup. I read about people always saying that space is cheap and there is no excuse not to archive in lossless, but in my experience it is a pain in the ass. If a solution comes up that is clearly obvious that my quality is suffering, I'll be the first to admit that I probably should have made arrangement to save everything in a lossless format. However, a one time event to re-rip everything in the future will probably be much less effort than it would have been to keep a backup over the last decade or more. At this point, I'm way ahead now in both money and time saved just by ripping directly to mp3, which is the format that works with everything I use to play my music.
I suppose that if when I initially started out that today's storage solutions were available, I'd think differently. It wasn't always cheap, fast, and reliable. Until I am confident there is any benefit, I'm holding out on the re-rip party.