Well you can use Apple Lossless and save space without reducing sound quality. I think it gives you a file size roughly 60% of the original WAV file. You'd have to do the math from there since I don't know how long your CDs are.
My math tells me around 90 hours or so in AIFF. Could probably bump it up to 140-160 hours if using Apple Lossless. Then it's depending on the average length of your CDs.
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