Isn't "FLAC"<http://flac.sourceforge.net/> the best sounding format for compression? If it is, why isn't anyone taking advantage of it? Don't really hear much about it.
It's lossless, and therefore larger file sizes. Most people don't notice the difference between mp3 and uncompressed CD, so they don't want the larger file size. As storage sizes increase, and quality stereo systems become cheaper, I think that the lossless formats may start getting more fans.