One thing no one has mentioned (unless I missed it) is the ability of the PS3 to function as a media streamer when connected to your main listening location. I'm with Mark and ripped my entire collection to 320 kbps MP3 using LAME. So, if you're willing to go to MP3, the PS3 has awesome networking and streaming capabilities. I have a 1TB internal drive in my main desktop computer that is located in the home office and the PS3 networks through a Powerline adapter and streams it beautifully to my home theater.
I decided to go with MP3 after doing several ABX tests in my home theater on my Axiom system and finding myself completely unable to pick out the MP3 versus the original file. On top of that, I've read Alan's comments a few times here saying that he finds 320kbps MP3s to be transparent. I'm not saying others can't hear the difference, I'm just saying I can't, which was all that mattered to me.
Plus, I know storage is cheap and getting cheaper all the time, but lossless files still chew up the space.
I also have two Apple Airport Express wireless adapters in the house, which I bought before I knew about how the PS3 streamed music. These work wonderfully as well as long as the microphone isn't running.
Mdrew - for CD ripping, I feel your pain. I actually just ripped my entire collection (~300 CDs) to MP3s about 2 weeks ago... We "only" have 3 computers in my house (*looks at Mark*), but if you happen to have more than one computer and you rip the CDs in sets of 3, it actually goes somewhat quickly. It only took a few days to get it done (it took about 6 minutes per set of 3).
My other exercise when I did this was to convert all of my purchased iTunes files (yes, I did a lot of this before I knew better) to DRM-free MP3s so that they could be played in any device. I used a program called Noteburner for this which worked pretty efficiently.
Long rambling post... hopefully some of it is helpful (or at least minimally informative)
Jason
