So if I rip CD's to my iMac and iTunes using the Lossless format, is there a setting in iTunes that allows songs synched to my iPod to using a lower quailty format (thus enabling me to fit more songs on my iPod at one time)?
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.
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.
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.