I am afraid this is a personal decision, but there are several things to keep in mind. If you start with a recording and convert it, the most you will get in the conversion is the same quality albeit in a different format. If you are not careful in your conversion, your output will be a lesser copy with less information. I say this because there are several youtube videos of geniuses who convert an MP3 music file into ...FLAC or AIFF and then they review the FLAC format as though it would have magically gotten better. It can’t unless you add musical content that isn’t there...
I am using a couple of different music servers, for casual listening I use iTunes. There are 3rd party add-ons (like bit perfect) that allow you to indirectly link to and play higher-res formats like FLAC. For my high-resolution music I use PLEX which is freeware and runs via a browser on your server (I use a Mac Mini). PLEX is accessed by network-connected devices, such as a computer or Tivo or a network player such as Cambridge Audio’s Azur 851N. In the case of the 851N, it connects to PLEX and gets catalog information from the Plex server. When you select a piece to play, the entire music file is downloaded from Plex to the 851N where it is then played from. I prefer this to a hardware/software product because HW products come and they go, but I can always keep my organized music library with or without Plex. I like this approach because I have a basement full of absolute computer and audio gear... ;-)
I am using a couple of different music servers, for casual listening I use iTunes. There are 3rd party add-ons (like bit perfect) that allow you to indirectly link to and play higher-res formats like FLAC. For my high-resolution music I use PLEX which is freeware and runs via a browser on your server (I use a Mac Mini). PLEX is accessed by network-connected devices, such as a computer or Tivo or a network player such as Cambridge Audio’s Azur 851N. In the case of the 851N, it connects to PLEX and gets catalog information from the Plex server. When you select a piece to play, the entire music file is downloaded from Plex to the 851N where it is then played from. I prefer this to a hardware/software product because HW products come and they go, but I can always keep my organized music library with or without Plex. I like this approach because I have a basement full of absolute computer and audio gear... ;-)