Well i'm no audiophile... you should see my cd collection
but I go for MP3... not for audiophonic reasons but for this one. My Axim, My (now retired) palm, my CD player, My DVD, MrsPsionandys MP3 player, My phone and computers can all play MP3.. some can play wmp.. some can play Ogg but everyrthing plays mp3. It just makes life easier for me.
(although the other formats do have some plus points that i'm missing out on by doing it this way)
Although the real audiophiles are arguing about which codec to use i suspect)