I have over 10K CDs that I have ripped. I just use iTunes to rip to aiff (only because the title mapping is easy). I then transcode to flac with AudioRepair from XiVero. Works like a charm and can correct for some CD errors. Flac, aiff and wav are all lossless, flac files are just smaller.
Redbook files can sound amazing on a modern DAC.
Redbook files can sound amazing on a modern DAC.