I think it would really depend on how big the iPod was and how long you needed it to play for (or what variety you'd want). If you got a 8 or 16 GB iPod (not to mention one of the HD based models at 80 GB or so, who cares if you're using uncompressed music on there and the files are huge?

I keep all my music at at least 160Kbps, and now I do it at 256Kbps VBR AAC--and I use a 20 GB, a 30 GB, and a 2GB iPods. Plenty of music, even on the 2 GB one.

I am the Doctor, and THIS... is my SPOON!