QUOTE(spockep @ Jan 20 2007, 15:43)

I don't get why you would want to convert to AIFF down the road. Or convert to AIFF at all. AIFF are simply apples version of the wav file for the apple branded machines. This would translate into more HD space wasted and no gain in quality(or security). I personally wouldn't choose ALAC either. Reason being there are more efficent lossless formats out there with a lot less hassle.
First of all, I almost hate to nit-pick here, but AIFF is by no means "apples version of the wav file for apple branded machines." The fact is that AIFF was invented years before WAV. AIFF is an extension of IFF. Apple and SGI both use AIFF. Microsoft took IFF and reversed it to create RIFF. I imagine that the primary reason for doing this was that in the early nineties when WAV first appeared, it would have slowed the processor down to deal with big-endian data, and thus Microsoft needed a little-endian format which was nearly identical in all other respects. So, the correct statement is "WAV is simply Microsoft's version of AIFF for Windows/DOS machines." WAV came out about 6 years after IFF. Another issue to note is that the Common Data chunk in AIFF is much more flexible than the 'fmt ' chunk of RIFF/WAVE, meaning that AIFF is actually superior to WAV.
Now that I've got the nit-picking out of the way, there are good reasons to use ALAC. I use both ALAC and FLAC. Having recorded about 150 live shows, I regularly use FLAC because it can be operated from the command-line and makes archival much more convenient. I rarely use convenient players like iTunes for live shows, so the lack of support for FLAC is not an issue, and I really don't need tagging since there is no "album" associated with the recording anyway (well, except for a few cases where my recordings have been released). ALAC, however, gives roughly the same performance as FLAC, sometimes even more efficient and faster to decode as well, but not always. ALAC supports tagging from CDDA and is fully supported by iTunes. In the end, it depends upon how you will be using the audio files. Both choices are good, and AIFF serves as a nice intermediate that is supported by all professional audio programs.