I recently started hoarding flacs subscribing to the thought of "Get the highest quality first, then compress it down later if needed". I can barely hear a difference between flacs and 320 kbps mp3 (or even vorbis), but I REALLY can tell the difference as soon as you get to 256 kbps or lower. I actually have an album that says it's 320 kbps and I'm pretty sure someone converted 128 kbps files to 320 kbps and put that online. The sound is just all jacked up.