snaprnz:
This is "macrumors.com", so we don't really care about ALL2MP3, a Windows app.
Everyone:
How do we know Max and others are actually doing the conversion in one step? Couldn't it be a hidden two step process with only the final result saved to disk? That would explain why they take so long to convert.
Also, you can just play Flac files in iTunes:
http://www.simplehelp.net/2008/06/12/how-to-play-flac-files-in-itunes/
I use this process when I am too lazy to convert, but converting is better, and then trash the Flac files. Saves HDD space, and never miss the "perfection" of Flac, since I'm not using Klipschorns and all that stuff. The process breaks and has to be redone at times. Not sure why, maybe Software Update fiddles with it. The link for Fluke (OS 10.5 and later) seems expired. Another:
http://code.google.com/p/flukeformac/
The "full" process works in Tiger, possibly even in Jaguar.
Personally, I am not a Flac-o-phile. If I want to take up enormous amounts of drive space to have perfection, I have AIF format. If I want to have same actual sound (to any non-dog ears) in a smaller file, I have 320 MP3 and 320 AAC.