I don't have a CD player yet, so I'm not much help with a comparison. As well, I have an airport express optical out into a Monarch M24. Quite a different setup from you.
But for me, Apple lossless sounded the worst (it's still a lossy format). I found WAV the best (bit for bit), and I assume AIFF is the same.... I use itunes so I use AIFF. However, the strange part is (don't flame me), I found 320kbps MP3 format, which is the smallest file size of the ones mentioned, sounded better than lossless.. (vocals more forward, more detail, more robust sound)... FWIW.
But for me, Apple lossless sounded the worst (it's still a lossy format). I found WAV the best (bit for bit), and I assume AIFF is the same.... I use itunes so I use AIFF. However, the strange part is (don't flame me), I found 320kbps MP3 format, which is the smallest file size of the ones mentioned, sounded better than lossless.. (vocals more forward, more detail, more robust sound)... FWIW.