What is the best format settings to store a physical music?
I did look at Flac but the data is almost the same size as the uncompressed Wav and none of my devices or self hosted services seem designed to play flac files. Everything gets converted.
What are people using?
If I had infinite storage, for archival I’d preferably use FLAC at its default level 5 compression. But like you and others, I thought the file sizes were quite big for a sizeable collection. So my personal compromise was AAC at 256kbps encoded with Apple’s QAAC. It’s small in size, vastly superior to MP3, and almost as universally compatible as MP3. There’s a reason why iTunes has stuck with it for so long, it’s an incredible encoder. I would never be able to hear a difference compared to lossless, at least on my equipment. So I went with it.