I am presently doing some testing of sizes vs quality of OGG, MPC, WMA and CDA (APE). My initial conclusions seem to be pointing me towards either OGG or MPC. Scronch's points about keeping masters as true masters are well made, but for me I just don't want to use THAT much hard drive space. The CDA files (APE ripped) are just huge, and I'd need another hard drive just for my current CD collection (300 discs - I thought 90GB would be more than enough. And with any of the other formats it is.) I've pretty much convinced myself that at normal/high OGG or MPC should be really sufficient for me forever - I don't think I'd ever really feel the need to re-rip. And if I do, I can - I've been surprised that the task is actually much easier and less time consuming then I had thought.
I also appreciate the advice not to normalize when ripping, but rather at playback. Makes perfect sense and I will go that route.
Initially, I'm going to try optical digital out from my computer to SPDIF optical digital in on a stereo receiver. I plan to get a new receiver anyway, and a digital input looks pretty standard in the price range I'm looking at, so I don't see that I have much to lose by doing so. And if I can avoid one more box (external converter), I'd prefer to. But I will consider the external D-A converter later however.
Does anyone have a recommendation of one or more stereo receivers with good D-A input/conversion in say the $500 price range ? Or a good reason that such a price range should not be my target - that I really should go higher (or lower) ?
If there is interest, I will post my results for size required to rip the same Talking Heads album in various formats and bit rates (WMA, OGG, MPC, CDA), as well as my own non-scientific hearing tests. (At higher levels, I can't tell a difference.)
Right now, for my own needs, I've pretty much ruled out CDA (APE), MP3, and even WMA , unless someone really thinks the new WMA VBR is worth considering. I seem to be heading towards either OGG or MPC, but still deciding between the two and on which quality level.
I greatly appreciate everyone's answers - I realize right now this is more opinion then science and no one answer is "right" for everyone. This seems to be a very good forum - where people respond coolly with facts and well considered opinions, and not just emotionally. Thank you.