Just wanted to let you know that it is a fallacy to say that "there is no audible difference between mp3 and CD." First, it depends the type of music you're listening to. If it's some sort of crap that consists 90% of bass, boom, and jibberish, then you won't hear anything (the cells in your cochlea (ear) might be dead anyway). BUT, if you are listening to polyphonic music, like classical, there is a HUGE difference between the best mp3 (320kbps, highest quality...) and a lossless format like ape. You also have to make sure that your speakers have good quality, but even with decent quality speakers you'll be able to hear the difference.
Second, it is extremely important what methods you use to rip your CDs. The best ripper in existence that corrects all the minor errors is the free EAC (Exact Audio Copy). If you use that with the highest setting AND use a good CD burner like Plextor, LiteOn, BenQ, etc (another complex topic), you'll get the exact same quality as the CD. In some cases the copy will be better than the CD because EAC corrects the errors and the glitches in the CD, whereas your player can't detect them and play all the crap altogether.
So in case you are interested in building a quality library for quality music, I hope my post will put you on the right track. People often post just for the sake of posting, without really understaning that they can mislead some people.
If you're listening to bass and other annoyingly repetitious music all the time, then just follow whatever the previous posts recommended. You shoouldn't be a purist to listen to crap.