Right now, I listen to MP3s streamed wirelessly to my stereo MUCH more often than I listen to CDs. Part of the reason has to do with the pain in the butt it is to remove the anti-toddler plexiglass in front of my A/V equipment. But the main reason is that I've come to like having complete control of what music I listen to, down to the genre, album, or song at any given time.
I use iTunes exclusively and Smart Playlists combined with Party Shuffle are my weapons of choice.
The majority of my collection is ripped at 160kbps. I don't often sit in front of the speakers anymore -- I'm busy chasing the kid much of the time -- so it's pretty hard for me to notice the compression artifacts.
