I have not done extensive AB comparisons to listen to the difference between CD and lossless files of the same source material, so, my own experience is limited and not of the apples-to-apples variety. But, I have at least heard implementations involving the same brand, so presumably there at least is a bit more similarity between gear. I own a Naim CD 555 CD player and a Naim NDS server system. The Naim NDS system rips all CDs to WAV files, which I store on a 6TB QNap NAS. As for my personal preference, I actually like the sound of the CD 555 more (slightly warmer and with less brittle sound), though both are quite decent. The convenience and easy access to my entire collection (4,000 CDs) makes me NOT want to plug the CD 555 back into my system.
As between WAV and FLAC files, I heard a comparison of a CD ripped to WAV and to FLAC (on a thumb drive) and it was quite easy to hear the difference--the WAV file was better (I could not control for the difference between storage/retrieval from the NAS and from the thumb drive).
I have heard good sound from both computer-based and CD spinner based systems, so I don't think that the differences are so large that one is CLEARLY superior to the other. Moreover, I find that differences between models of DACs, particularly with respect to the kind of analogue output stages and filterless v. filtered/oversampling DACs makes a big difference, moreso than CD v. server or even CD v. SACD.
As between WAV and FLAC files, I heard a comparison of a CD ripped to WAV and to FLAC (on a thumb drive) and it was quite easy to hear the difference--the WAV file was better (I could not control for the difference between storage/retrieval from the NAS and from the thumb drive).
I have heard good sound from both computer-based and CD spinner based systems, so I don't think that the differences are so large that one is CLEARLY superior to the other. Moreover, I find that differences between models of DACs, particularly with respect to the kind of analogue output stages and filterless v. filtered/oversampling DACs makes a big difference, moreso than CD v. server or even CD v. SACD.