With recent releases of Max, Cog and Tag -- this task is actually possible.
I will use Max (with new "Comparison ripper" mode) to encode to FLAC files. All this files will be stored on external FireWire drive and I will transcode to other formats from them only when needed. They will be played with Cog and eventual tag changes will be made with Tag.
I will connect my Mac mini to Rotel RA-04 amplifier, speakers will probably be AE AEGIS EVO One or B&W DM303 or something similar to this two.
This is where the fun begins. I will need advice with the following:
- External FireWire drive -- brand, model, etc? It must play nice with Mac mini and connect trough FireWire 400 port. Ah, around 250-400GB. Solved: Glyph 250GB GT 050 FireWire drive
- External sound card -- or something similar (external DAC?), because the built-in one isn't the greatest. To bypass OS X influence to sound if there is any, so it must have ASIO or something?
- Cables -- to connect sound card and Mac mini and/or sound car to amplifier...
