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Apple Lossless is an uncompressed audio format. Kind of like MP3 except you don;t lose any parts of the audio, and therefor the audio is higher fidelity. If you don't know what it is, you don;t need to bother with it.

Don
 
If your serious about music, do it, if not, MP3 or AAC at 320Kbp's is fine.

When i have external storage, im going to rip all my CD's Lossless, and then just keep MP3 copies on my iPhone and MBP. Shame this is only ~10% of my Library...

No offense, but that's entirely just an opinion. I'm serious about music, as I'm sure others are with meticulous attention to cover art/file naming/conversion (high bitrate 256kbps LAME mp3 encoding)

The fact is, if you're ripping at a high enough bitrate or using apple lossless, all that really matters is that if you can't tell a difference between the two, it shouldn't really matter what you use. Yes, formats change and you can't rerip it if you didn't do apple lossless or FLAC, but if you can't tell the difference between the original and a high end "lossy" encoding, I'm personally fine with that.

I guess this is my opinion about it as well.
 
Apple Lossless is an uncompressed audio format. Kind of like MP3 except you don;t lose any parts of the audio, and therefor the audio is higher fidelity. If you don't know what it is, you don;t need to bother with it.

Don

Apple Lossless is compressed, it's just not lossy. The average bitrate is 800-1000Kbps, whereas uncompressed WAV files are 1411Kbps.
 
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