>>7
So, you like to store 3 minute long 80mb wav files on 512mb mobile audio players? Or use flac, which may manage to halve the filesize, but isn't supported by most mobile players?

The only real option for taking stuff with you (which you'll probably want to do with most of your music) or for re-using the audio in another video file is a lossy format, hence you'll have to reencode to something lossy. And decoding and then reencoding, also known as transcoding, is stupid and reduces audio quality.