QUOTE (Bethrezen @ Jun 22 2007, 12:46)

... which lossless format is best for archival purposes ...
a) If you're out for best compression, rarely decode your archive, and don't care about a codec not in widespread use: LA or OptimFrog with very high compression settings.
b) if you're out for very good compression but also have to care a bit about encoding and especially decoding speed: use Monkey in extra high mode (c4000).
c) if you often decode resp. listen to the archive on your pc:
- use TAK if you don't care about using a rather new codec the format of which may change in the not too far future
- use FLAC for a good codec with widespread use and support
or
- use wavPack as a good alternative to FLAC.
Compression ratio does differ between these codecs especially on specific tracks but in the overall view on average difference is rather small. That's why only few people use LA as filesize gain vs. speed loss isn't impressive.
Some people care about error robustness of the codec, but IMO this is to be considered in context with an overall backup strategy. I personally use a double backup for all my important data so the error recovery of a codec (letting erranous files produce only local errors) is of no concern to me.
I personally use Monkey extra high. Fast enough for me.