Here's what you're not getting. .WAV is a wrapper file for PCM, or uncompressed digital. All other formats are compressed, but a lossless compression scheme will preserve all detail once they are decoded. Therefore, all lossless formats will sound the same.
The difference is in their encoding/decoding time, the system resources they use, the amount of support they have between various products, how much compression (i.e. the file size), their longetivity in use (e.g. are they open source? are they proprietary? will they be compatible with future file systems?), etc...
Taking all these factors into account, it would be easy to see why .FLAC is so popular. But it isn't even close to the only option. If you want universal compatibility, then .WAV is obvious. .FLAC is a close second, but isn't the best in terms of compression or encoding time. .FLAC is also open source, which allows commercial products to use it without an expensive license, increasing compatibility.
The difference is in their encoding/decoding time, the system resources they use, the amount of support they have between various products, how much compression (i.e. the file size), their longetivity in use (e.g. are they open source? are they proprietary? will they be compatible with future file systems?), etc...
Taking all these factors into account, it would be easy to see why .FLAC is so popular. But it isn't even close to the only option. If you want universal compatibility, then .WAV is obvious. .FLAC is a close second, but isn't the best in terms of compression or encoding time. .FLAC is also open source, which allows commercial products to use it without an expensive license, increasing compatibility.