Which format of audio should I use to backup my CD collection? I'm not using WAV, just to let you know. I'm thinking either WMA - 128 kbps, or MP3 (LAME) - 192 kbps.
Why not use lossless compression like FLAC or APE, that way you can have a perfect bit-for-bit copy of the original with perhaps 50-60% of the original size that WAV files use? And FLAC and APE files can be played in WinAmp in their compressed state. Keep in mind that MP3, WMA and the like are not bit-for-bit exact copies of the original.
I am aware that MP3 and WMA are not lossless codecs. I was considering either FLAC or APE. (Is WMA Lossless any good?) Anyway, which one would you suggest I use? FLAC, APE, or WMA Lossless?
It's all a matter of preference. FLAC seems to have more support, but APE has better compression. I don't know about WMA lossless. There are others as well.
Alright. I'm a little unaware of the setting in FLAC. If I were to encode them in FLAC, which 'compression level' (1-10) would you suggest to significantly compress the file, while maintaining great quality?
All compression levels in FLAC and APE are lossless (quality is the same at all levels). The higher the compression level, the more time it takes to compress/decompress and it uses more CPU power but makes the file size a little smaller. So under most circumstances, it's best to choose a level somewhere in the middle (HIGH for APE, or -5/-6 for FLAC) to get the best trade-off between compression size and compression time.
