I still buy CD's here and there as well as iTunes. I'm leaving the CD though and going exclusively with iTunes for music. Unless I want a hard to find album that's not in iTunes, I see no reason to keep buying CD's. Therefore, I've boxed up all my CD's and is now sitting in the garage. My entire library is 256kbps AAC files. The reason? 1) I can't hear the difference between CD and 256k AAC files on my iMac with AKG 701's, home theater system, my iPhone with stock earbuds or while playing in my car. 2) Far easier and somewhat cheaper to download from iTunes 3) Takes up no physical storage space. 4) If a new generation of sound comes available in mass (ie. 24bit/96k), I'll have to repurchase all my favorites again anyway, so having the "original lossless CD" is useless anyway.