But now it gets weird.
There appears to be no difference between a CD ripped to .wav and a CD ripped to .wav, converted to .flac, and then back to .wav. There is a huge difference between PLAYING the .wav file and PLAYING the .flac file. The weak link appears to be the codec used in the player. I even tried an HDTracks .flac 24/96 download of David Grisman Quintet and both of us in the room had our jaws drop when I switched between the purchased .flac and the converted .wav file; the files do appear to plump when you cook 'em. Hardware is a Windows 7-64 bit machine with 8GB RAM and a Core i5-2400 CPU connected USB to a Benchmark DAC1 HDR so there's no shortage of CPU power.
In decreasing order of quality (and I might add in not too subtle steps) were .wav, .flac, Apple Lossless, .ape, and then, of course, AIFF and .mp3. Results of .wav and .flac comparison were attempted and duplicated on a Logitech Squeezebox Touch using their PC server software.
Given the ease of making the conversions in JRiver I'd love to get other people's input on the same comparison.