Personally I like CD's. I got ticked at itunes. And yeah, I'll be honest, i Can't tell the difference between 246 bit rate and ALAC. But my thing is, it just doesn't move the way i want it. As in It's not easy to manipulate. Hence, I've started buying all my music on CD's so I have hard back ups. Then, (actually right now) I'm havong an android mini computer shipped in so i can build the mother of all portable--or transportable depending on how you look at it--rigs. (Minix G4-->Modi-->O2, all as powered by internal batteries or 9000 mah battery pack) Thus, I will be completely independent from grid power during use.
Any way, yeah I'm with the CD crowd for the moment. In the future, I hope to expand to records as well. I've heard such great things about the lack of compression. Makes me giddy...now, if only records still went for the prices they did back when they first came out
Oh and my two cents on amps/dacs:
I do agree with you to some extent that there is a bit too much hype around them. I know i have a name brand solid state and can't tell it apart (actually think its worse) than my no name pro amp. The price difference? $150.
I'm not big on the whole idea of amps and dacs really changing the sound of a setup. In all honesty i think it's headphones that make a difference. Now I CAN tell the difference between cans, and thus appreciate upgrading/owning multiple pairs.
I look to make my final upgrade to the modi and O2 and call it a day in the source department. Now headphones...those are where it really counts. Got my hands on the HD800's a few days back...I'm looking forward to being out over a grand in the near future