I rip everything to FLAC for listening in my home systems. At the same time, I then also rip to 320kpbs MP3s. It's a 'challenge' for people without ultra-trained ears to perceive a difference at 320 but it produces much smaller and universally acceptable files. I'd never be able to fit my 44GB of MP3 music on my 64GB portable player if I didn't compress to MP3.
Also, I run a music server at home with a single, (so far) non-exploitable port opened up so I can listen to all my music from home via my laptop and the Interweb.
