@stilljd - The FLAC compression levels are aspirational. Think of them more as setting how much time to spend attempting to compress a song, more than how much they will compress a song.
That is, as you increase FLAC compression it spends more and more time to compress the data, but may not actually be able to do so.
@cundare2 No offense is taken.
HDCD was a way of encoding a variety of features into a 44.1 kHz/16 bit signal, most famously it was a way of encoding 24 bit data into 16 bits. This compression did in fact affect the original music, in the sense that the original 44.1 kHz/16 signal was no longer bit identical as it now had information encoded about dynamic range. HDCD was complex and encoded more features than just this.
MQA is also not a bit-perfect conversion. It attempts to encode in a low resolution signal (44.1/48.1, etc) high resolution content (96 kHz/24, or higher).
In the case of HDCD or MQA you are left with 44.1 kHz/16 bit data which is no longer bit-perfect of the original.
On the other hand, ALAC, FLAC and WAV formats though result in exactly the same bit-perfect signal resulting from decoding their files. Conversion between them to each other should result in exactly the same set of 44.1 kHz/16 bit data streams (if that’s what you started with). How they handled metadata might be different but in all cases the metadata is NOT encoded into the music stream.