Personally i always prefer to buy the cd, but thats because i've invested in a decent hifi and like to physically own things (my fiance considers me a hoarder!)
I'd imagine that if you don't case about physical goods and don't mind not being able to burn the songs much and are happy to be limited to Itunes in the future its probably an easy option.
Only thing i would suggest is before buying an album have a look to see whats cheaper. Sometimes i find the cd to be cheaper than Itunes.
And don't forget to get some backup drives and backup regularly
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