Got the e-mail from Pioneer and they look really sweet! Need to know exact pricing though (in CAD), hope they aren't too costy!   

Been listening to the Wasted Penquinz new album Wistfulness, specifically one track called Raindropz. As well, Coone's new album Global Dedication!

Thanks for your quick responses! I was just a bit paranoid that I would lose SQ in exchange for the smaller size of the file, which isn't a problem as I have an 80GB iPod :D Thanks again!   

I've read a great deal of threads on how you can convert WAV. to ALAC in iTunes without any difference in sound quality. Some people stated that there is no loss of information by converting one Lossless file into another.   However, when I went and did this with some of my albums on iTunes...