a little ludwig goes a long way: SHN. John points out that instead of using lossy Mpeg compression. Going to a lossless compression scheme like SHN might be better. Great point. With disk space so available, I'm already encoding at 320Kbps variable rate which is still 5x less than the raw CD format. But, I know I'm losing something.
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The FLAC site compares lossless compressors.
Thanks for the FLAC site. Very interesting, Gary!