QUOTE (xmixahlx @ Jul 6 2007, 02:13)

...maybe i'm being a bit picky, but "preserve" and "lossy" seem to contradict each other.
There are two things, which he - for practical purposes - loses when encoding lossy at V2:
1. The ability to efficiently do postprocessing at a later date
2. The ability to later convert to a different lossy format, without quality loss
If he is absolutely certain, that those two points dont matter, then he has nothing to lose but something to gain by encoding to V2. If however he is unsure about one of those points, he should go with lossless.
- Lyx