CD vs FLAC

Hi Folks,

I am currently investigating a new home system and some of the questions I have are with respect to digital audio. My questions are:

1. All other components remaining equal (speakers, amps, preamp, etc.) is there any loss of audio quality in playing a FLAC file vs the track from a CD?

2. If there is a noticeable loss then what CD player would you recommend for a $1000 budget.

3. If there is no noticeable loss and I were to convert all my CD library to FLAC files and store them on a network accessible media server what source component would I use to stream this through my system - again keeping the budget to $1000?

4. Are there quality sounding CD players (first and foremost for CDs) that would allow the FLAC files to be processed through it and output to the preamp?

The system I am looking at would be comprised of the following:

Odyssey Stratos HT-3 Extreme
Odyssey Khartago 2-channel Basic
Odyssey Lorelei front speakers
Outlaw 975 AV Processor

If you require any additional information to respond then please let me know.

Thanks for your assistance!