Okay, @Livelikemusic, this is directed to you. I ALWAYS struggle with file types. My sources usually give me the option for LOSSY or LOSSLESS. I’ve never understood file quality. What should i want and why?!
Depends on what you like; a lot of people like lossless or FLAC. I used to like CD-rip MP3 320kbps… but now I go for i+ or iRip 320kbps!