Totally agreed. I have done blind testing, and while with a lot of concentration and in a quiet room I can locate a difference around 70% of the time, it is extremely slight and quite difficult to differentiate between 256 AAC and Lossless (ALAC, FLAC, WAV). The 'coloration' of sound which some others have mentioned being applied to AAC 256 is generally slight. That's my experience.It depends. on $20,000 speaker? I'll tell you one thing, I can't tell a difference between Hi-Res music (from DVD-Audio) and CD, despite protests from my friends who's an owner of those expensive speakers. If there's difference it is barely to hear. Bass has some difference but overall I'd say in blind test I wouldn't be able to point it out which one is which. Sounds impossible, right? Takes it what you will.
Do my friend possess better ear than me? I highly doubt it. (and I have a case to prove)
On less than $1,000 speaker, am I able to tell a difference between CD and AAC from that CD? On volume that's comfortable to my ears and on an ordinary room, not listening room? No. NOT AT ALL.
I didn't reach my conclusion from reading spec, reviews. It's from my actual testing and listening. YMMV.
Nevertheless, I would love to have a high-res audio choice/improvement. Who knows, maybe with increased fidelity streaming, we'll see improvements in mass audio devices as well. Since people will then want to hear the difference between 'old' standards and the new!