QUOTE(gib @ Feb 26 2008, 15:04) 
Another advantage is that, in the event of corruption, lossless files will tell you something is corrupt on decoding (playback, testing). Wav files won't.
That is a good point. I suppose I could find a utility to create MD5 checksums of all my .wav files for later comparision, but I suspect that using a lossless encoder will be easier.