I use WMA lossless. My only use is home playback at this point - I don't have much use for portable playback. Lossless is a key factor, and as others have said, WAV doesn't do the tagging info.
I don't spend much time on comparing encoding schemes, etc., so I pretty much defaulted into WMA, figuring it was lossless and would be supported forever since it's a MSFT creation. What I would like is a hard-drive-based car system that connects wirelessly to the home network, and syncs with the music files you put in a particular directory on your music server. If I could get that and it needed something other than WMA, I'd go to the trouble of converting. Otherwise, WMA lossless works great, and HD space is cheap enough now that the cost allows you to archive all the music you want to.
I don't spend much time on comparing encoding schemes, etc., so I pretty much defaulted into WMA, figuring it was lossless and would be supported forever since it's a MSFT creation. What I would like is a hard-drive-based car system that connects wirelessly to the home network, and syncs with the music files you put in a particular directory on your music server. If I could get that and it needed something other than WMA, I'd go to the trouble of converting. Otherwise, WMA lossless works great, and HD space is cheap enough now that the cost allows you to archive all the music you want to.