I've ripped plenty of lossless stuff, and while there is a noticeable difference, it isn't worth it, in my opinion, to keep your entire music collection in lossless, especially since the hard drive space necessary to do that would be in the hundreds of GBs. 320 kbps is just fine if you *must* have really high quality, and 192 is still great. People can be fanatics about high quality, but the difference is barely audible unless you are trying to discern differences.
