FLAC ftw
I've encoded all my CDs (about 400 albums) to FLAC (single files w/ CUE sheets) to retain a *master* collection.
Then, I transcoded the FLAC files to 192kbps AAC (m4a) to put on my iPod, burn CDs, etc.
It takes up some extra room having my collection at lossless (FLAC) and lossy...