Mapman,
I agree with you about ripping and streaming. I utilize a Naim UnitiCore to rip and store my CDs as WAV files (it has a built in 8tb hard drive). Of my 5,000 CDs, only four could not be ripped because the CDs also had video content. Like you, I have noticed that some CDs take MUCH longer to rip because they have parts that have to be read over and over for error correction. The ripper reports the number of errors that required interpolation to fill in error gaps. Of these 5,000 CDs, the ripper has found zero errors requiring such measures.
The ability to search for any CD by knowing the tiniest bit of information, or browsing the collection by genre is priceless, particularly with a large collection. The convenience of not having to search for each CD and then having to re-file them when done is also great. The fun of assembling long playlists is also not to be overlooked.