MP3 is okay. I mean it's pretty decent at 160 kbps and I can't discern a difference at 192 kbps or beyond, but it flat out sucks at 128 kbps and lower.
I thought about switching to Ogg Vorbis recently because it's pretty well-supported now, but I found out that iOS devices can't natively play it. I use Android and it's supported natively there, but since it isn't in iOS I felt that support just isn't quite where it needs to be for me to feel comfortable with it. Plus, I don't think Google Music will take Vorbis files.
AAC works well enough. I'm very happy with its quality at all bitrates and support is ubiquitous these days. I just isn't free (as in "freedom").
I mentioned TAK in my previous post. I'm not sure if anyone here is familiar with it. It's a lossless format like FLAC, but in general it encodes faster, decodes faster, and has greater compression. The author was very forward thinking, building in streaming and 24/192 audio support from the beginning. The only thing is that it's Windows-only, has virtually (actually?) nil hardware support, and is not free (as in "freedom"). The creator has made general statements about a desire to make TAK open source, but he's been saying that for years now. To me, it doesn't matter as I use lossy codecs on my players and TAK is just a reference archive. As long as I have a Windows machine and the decoder EXE handy, I can decode the files.
