I can see in the past with the cost of hard drives but hard drive are dirt cheep now is there a real reason to compress the files now.
Even if we apply a factor of 3 (files, backup 1, backup 2) the cost of storage remains low.
I do think this a valid argument
I do not see a way to make a direct one to one copy of a CD unless I am burning it to a other CD and keep the meta data.
This one I don't understand.
A CD contains 2 channel audio with a 16 bit word and a 44.1 kHz sample rate.
If you rip it to WAV, FLAC or any other lossless format you have 2 ch 16/44.1 kHz audio.
As others pointed out, tagging WAV is a problem.
The WAV tagging standard is missing a couple of crucial tags like Album and Cover Art.
A lot of media players don't support this standard or only partial.
The moment you switch to another application, you might hit problems.
As our PCs most of the time don't have ECC memory, you might have some data rot.
FLAC at least allows you to verify (should be an option in JRiver
)