There can't really be a significant loss ripping a CD to WAV, AIFF, FLAC, or Apple Lossless. They are all lossless formats. Mp3 and AAC are lossy/compressed codecs and are a completely different scenario. They are designed for portability. iTunes stores uses 256 kbps AAC for their Plus downloads now. That is fairly high quality. I hope they offer lossless at some point, but at least they are working in the right direction.