That "Create Apple Lossless Version" setting won't add any info to a track. I use it to convert WAV files to Apple Lossless.
The other responses to the other stuff are correct, to the best of my knowledge.
Have your default CD importing setting to either Apple Lossless or AIFF. Apple Lossless is basically Apple's version of FLAC, and AIFF is their version of WAV. iTunes will play WAV. Not sure if iPods/iPohones/iPads will or not. Never tried it.
I rip all my CDs as Apple Lossless. Never heard a difference between that, WAV, or AIFF. Others here have. Others haven't. Everyone's ears, room, and gear is different. Rip a few tracks in a few different formats and see if you hear a difference. Apple Lossless takes up less hard drive space if you don't hear a difference.
The other responses to the other stuff are correct, to the best of my knowledge.
Have your default CD importing setting to either Apple Lossless or AIFF. Apple Lossless is basically Apple's version of FLAC, and AIFF is their version of WAV. iTunes will play WAV. Not sure if iPods/iPohones/iPads will or not. Never tried it.
I rip all my CDs as Apple Lossless. Never heard a difference between that, WAV, or AIFF. Others here have. Others haven't. Everyone's ears, room, and gear is different. Rip a few tracks in a few different formats and see if you hear a difference. Apple Lossless takes up less hard drive space if you don't hear a difference.