I use to use Monkey's Audio for all my music, but recently converted everything to FLAC because of the two Rio Karma's I have coming.
After extensive testing over the weekend, I decided Vorbis at -q6.25 (transparent to me after much ABX testing) would probably suit my needs better as far as portability is concerned (though I must add, MPC would have certainly been preferable).
Now I'm debating what to do about my FLAC files since I probably won't end up using them on the Rio. I like the format, but compared all the other lossless choices, FLAC files suffer a bit from bloat even with using -8 for compression. This adds up to gigabytes of wasted space very quickly. I suppose I could go back to Monkey's Audio, which was why I was using it before (good compression at high setting).
Now I'm playing around with DualStream and WavPack lossy. This was something I was struggling with a few months ago actually. Supposedly, because they don't use psycho-acoustic modeling, make the best choice should you ever need to transcode to another lossy format such as MP3, Vorbis, MPC, etc. And because high bitrate ofs and wv files are pretty much un-ABXable (as far as I know), are for all intents and purposes audibly lossless. So I'm trying to convince myself that using DualStream at -q6 would be just fine and that I'd be happy, and that what I get out of it is files that take up approximately half the space that my FLAC files currently do, which is a lot at the moment.
Trouble is I'm having difficulty convincing myself. Lossy is still lossy after all, even if you can't hear what's been thrown out. Speaking of which, what does WavPack lossy and DualStream throw out anyways? I can't find any info on this. Anyways, at the moment I am considering transcoding everything and having correction files made too. Then I could store those correction files elsewhere. However this is kind of a pain to maintain when you think about it. Plus it technically means I'm still using up the space in one way or another.
Well, I've babbled enough. You can see my conundrum. I know there are a couple folks here who have gone this route already, and I'm sure had to struggle with these questions too. Really hope to hear from you guys!