If it were my choice I would re rip everything. The reason is that iTunes is probably not the best ripping software you can use. You would be converting files that were ripped under less than ideal circumstances. I would do new rips directly to WAV with EAC or dbPoweramp. Why take a chance?
As far as converting from one format to another goes, I'm not sure if that will degrade SQ. I'll venture to say that, as with ripping, you'll definitely want to use the best software for the job and have it set up properly. But I really don't know for sure.
As far as converting from one format to another goes, I'm not sure if that will degrade SQ. I'll venture to say that, as with ripping, you'll definitely want to use the best software for the job and have it set up properly. But I really don't know for sure.