Oh, but I do use Media Monkey for playback. However, I don't get that involved with my playlist creation. I tend to just keep my most recent purchases in rotation until I've digested them, and then I transfer the tracks I like the most to my phone to listen at work. Since I have the Media Monkey app on my phone, I don't need to have both FLAC and MP3 versions of the songs. I just stick with FLAC.
Between EZ CD Audio Converter for all of the back-end stuff and Media Monkey for playback, I get what I need.