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Haven't done it but once you rip to lossless format like FLAC you can always use them as sources to encode to any format you want using a batch method.
Unfortunately I spent a great deal of time ripping mine to 320kbps MP3 years ago, it's "good enough" so I'm reluctant to go through the work again.
You guys aren't actually throwing away your CDs after you digitize them, are you? Once I finally get all of mine backed up, I'll still keep all of my CDs, I'll just have them packed away in a CD case. You never know if and when a hard drive goes bad and you don't have redundant storage for some reason. Plus, I still like listening to my music on CD. I also just like the idea of having the physical CD in my possession.
That said, while I haven't done this in awhile, I used to get CDs dirt cheap on half.com. I mean, I could get a CD for .79 cents, although shipping and handling would bring it up to about $3, it's still cheaper than buying that same album on iTunes for like $10, and then you can choose to rip it to whatever compression (or no compression) you want.
Did that a cpl years ago...had almost 500 cds...took up 6 or 7 large cardboard boxes to store all that.....I brought them all onto the hard drive then pushed them onto a handful of 64 Gb thumb drives. The thumb drives go into a a front panel USB port on the stereo head unit.
I'm on a sailboat about 50% of the time so storage space is obviously at a premium. Works great.
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Wow!
