.... I think I tried FLAC for comparison a few years ago and couldn't tell the difference--either my ears or my equipment to blame. ...
I don't think many will
hear(*) a difference in a high-rate mp3 (or even a lower rate mp3) and lossless. That's not really the point IMO. It's about having a 'master', so that if you need to convert later, you are not adding artifacts to artifacts, at that point, it may become more noticeable.
But I apply a general concept here, that I try to apply in many areas of life - risk/reward/effort. It takes no real added effort and very little resources to keep a lossless master, and it may pay off someday, so I just do it.
(*) - Even on my fairly high end stereo, the difference in mp3 and lossless is not readily apparent. But we know that something has been removed from the music. I've tested this by doing a subtraction of the compressed and originals in an audio editing program. You can now hear what is missing - little details, transients, tails of the reverb, etc. These little things are not obvious in a short A vs B, the algorithms do a very good job, but...
I've made this analogy before. I'm sure we've all sat in a chair, or behind the wheel of a new car, and thought it was comfortable. Feels great, right? But take that car on a long drive, or sit through a long movie, and that same chair might start feeling terribly uncomfortable. I think this may be happening with compressed music. After a while, I find I sort of lose interest - I think all those little details, which are not obvious, begin to affect how much I enjoy the music. Something is missing (literally!), and over time, it just starts to sound rather dull and lifeless, compared to the original.
But again, the effort/resources to maintain lossless are so small, that I'll just do it, even if I'm just imagining the difference, just in case. It's cheap insurance.
.... It occurs to me that I should go back and re-convert the top 20 or so CDs I still play a lot to FLAC. I need to see if my car, mp3 player, and Plex can play that format, since those are my main forms of listening.
My car doesn't support FLAC (boo-hiss!), but that means I can go to my masters, and make a "first-generation" mp3, of any size/bit rate I feel is adequate for the purpose. So I still want FLAC masters.
The main disadvantage to using the Free Lossless Audio Codec is the lack of native support for it on all Apple products. ...
As much as I can, I try to support companies that support open formats.
... If I were just starting out today, I would probably choose a lossless format. But, at the same time, I am confident that I cannot tell the difference between 320 VBR and lossless. .... Kids today only listen to streamed content
See above for my views on listening. And I think it is weird that kids and young adults today have such advanced technology, yet, they mostly settle for sound that is often of far lesser quality than we had back in the day. I don't know any young people that have decent speakers/amp. None. And speakers can easily make a bigger difference than mp3 vs lossless.
Kids these days!
-ERD50