Here are some quick results:
Rainforest Magic:
Original: 3,783,234 (3.60 MB)
LA: 1,589,169 (1.51 MB)
FLAC: 1,922,108 (1.83 MB)
MAC: 1,659,264 (1.58 MB)
LA, 2 subbands: 1,760,872 (1.67 MB)
FLAC, 2 subbands: 1,848,179 (1.76 MB)
MAC, 2 subbands: 1,823,968 (1.73 MB)
LA, semi stereo: 1,699,652 (1.62 MB)
FLAC, semi stereo: 1,842,135 (1.75 MB)
MAC, semi stereo: 1,855,924 (1.76 MB)
Ausente:
Original: 20,676,476 (19.7 MB)
LA: 10,246,817 (9.77 MB)
FLAC: 11,108,314 (10.5 MB)
MAC: 10,612,728 (10.1 MB)
LA, 2 subbands: 10,326,052 (9.84 MB)
FLAC, 2 subbands: 10,871,151 (10.3 MB)
MAC, 2 subbands: 10,639,592 (10.1 MB)
LA, semi stereo: 10,320,026 (9.84 MB)
FLAC, semi stereo: 10,856,286 (10.3 MB)
MAC, semi stereo: 10,712,704 (10.2 MB)
Chains:
Original: 23,161,364 (22.0 MB)
LA: 13,634,434 (13.0 MB)
FLAC: 14,539,195 (13.8 MB)
MAC: 13,986,996 (13.3 MB)
LA, 2 subbands: 13,782,001 (13.1 MB)
FLAC, 2 subbands: 14,382,005 (13.7 MB)
MAC, 2 subbands: 14,127,728 (13.4 MB)
LA, semi stereo: 13,775,452 (13.1 MB)
FLAC, semi stereo: 14,365,873 (13.7 MB)
MAC, semi stereo: 14,286,844 (13.6 MB)
I converted each file to mono, compressed that file with La (-high), FLAC (-8) and Monkey's Audio (High), split the file into two subbands (each half the size of the original) and compressed those with La (-high), FLAC (-8) and Monkey's Audio (High). For the "semi stereo" results I combined the two subbands into one stereo file (each subband got its own channel).
I used the Bspline coefficients from my program (came from 'Factoring Wavelet Transforms Into Lifting Steps',
http://cm.bell-labs.com/who/wim/papers/factor/).
If anyone else would like to test some files, I have a prebuilt Windows binary lying around, as well as the config file used to split the file into subbands (which can be modified to split the signal into as many subbands as you'd like).
Judging from the above results (and tests I performed earlier) I'd say there is a chance to improve FLAC's compression somewhat, but probably not passed the performance of Monkey's or La. And even if someone would be able to tweak the algorithms in such a way that Monkey's (or perhaps La) responded better to the subbanding I think it would still be a marginal difference, but I'd be delighted if someone would prove me wrong.
BTW, I also tried compressing with 7zip and RAR, but they both performed quite bad (16 and 15 MB respectively, I used "Ultra" and solid archive with 7zip and solid archive with RAR, forcing audio compression actually resulted in a worse ratio).
EDIT: Added LA and semi stereo results and added the original file size as a reference.