As for my take on Lossless and sound quality etc...
For 8 years I've been ripping my CD's at 160, then 224, then 320 and NOW full lossless
WAV format. As the hard drives become larger and cheaper, I can afford the space. I'm
currently working with a 1TB Samsung in the last of my MacIntel's 4 bays, dedicated solely
for iTunes collection. The reason I'm ripping everything at WAV now is because I'm using a
router to beam my whole iTunes library and playlists across the house to my PS3 via WiFi,
and into my B&K 200.7 out to my JM Lab's (Focal's home line) Electra 927 BE. All that said
would mean nothing until I bring up this point:
As my ears evolve and I become more attuned to the pure sound quality I'm achieving in my Livingroom,
I can now tell the difference between 320 & 224 kbs quality. I still cannot tell the difference in blind tests
between 320 & PCM (the pure CD quality, in the format of WAV, Apple Lossless & AIFF) but I'm hoping one day I'll be good
enough to tell the difference, and if I ever get better equipment maybe I will. But the PS3's only reads
WAV or MP3's.
The music you download from iTunes (which I haven't done for years btw) isn't lossless, but it's their own codec.
But iTunes does have an option to RIP your CD's into WAV, various MP3 qualities and the Apple Lossless, but again,
there isn't much support for the latter.
Other forms of lossless formats you may find in Bit Torrents are Flac, Shn, Ape and a few other weird ones others came up
with because they were bored. But FLAC's are the most common. The take up about half the size of (CD) PCM files.
Usually these come in the form of an entire album, or whatever the seeder decided to package up for download.
Once these FLAC's etc. are downloaded, you can convert them to WAV or AIFF that can be burned onto CD. These
are true lossless formats, as there is no loss of information or quality of any kind I believe. You can also convert these
files to any other format you like with Toast or iTunes. (iTunes requires FLACs be converted to WAV or AIFF, then imported
as whatever you like.
For a few years I had a Kenwood and the Kenwood Keg (Phatnoise) mounted under the seat with a removable cartridge
that you could sync with your iTunes. That read as a CD Changer, so the quality was pure digital, as opposed to an
iPod transmitter or Mini-jack which is pure crap. I only hope the new connection methods are also as good.