The key things with ripping are what format you rip to, will it be playable by your chosen streamer. Secondly, lossless or lossy, thirdly make sure that there is an error correction, where the ripped data is checked (checksum, not that I understand how this works), and you also want to use a ripper / format that tags other info, such as track labels, coverart etc. WMP is perfectly good at ripping, though I don't think it will rip to FLAC, so you would need to convert the resultant rips from whatever file extension it gives them to FLAC to play them on say iTunes.
Some streamers (the one I use for example) will play just about any file format (and rip to any format)