mp3? god no. nasty compressed format! Not fit for human consumption on anything other than hold music down a telephone! CD quality WAV files stored at 1411kbps. Average 3min30sec songs is 45,000KB in size. Best quality MP3 is 320kbps and is only 9,000KB in size... very poor sound at best, you'd notice after out processing it would sound tinny and lackluster. LARGE CHUNKS ARE LEFT OUT ON mp3 TO FIT IT INTO THE SIZE!
True, but at 320kbps, most of the data that's lost is inaudible to most people on most equipment. I have a semi-decent (~£800) hi-fi, and I can rarely tell the difference between lossless and 320kbps MP3 if it's ripped with a decent encoder. Go down to 192kbps and the difference becomes more apparent.
But disk space is really cheap anyway, and even if you do direct WAV rips from CD, you could still store several hundred albums on a £40 hard drive - so why not rip to lossless? Also has the benefit that if the CD gets lost or damaged, you still have a perfect copy of it.
Ridiculous. I have a copy of Californication but I find it more-or-less unlistenable. Whoever mastered it wants shooting.