I found out for myself that 320k AAC (VBR) sounds as good, to me, as Apple Lossless for my purposes. My 'raw material' is rips from my own CDs (16bit 44.1khz) and I have no interest in 24/96 files (or higher) because there is so little choice and prices are so high.
What the rest of you get up to is of no matter to me.
However, the tone these debates take is toxic to the forum. The same characters 'parachuted in' every time to lay down the law and set tests (where do we hand in our homework sir?) as if they, personally, represent the only truth possible and should automatically hold some natural authority on the subject.
Of course they don't. 'The truth' in these matters is always what makes the individual happy.
Some people want to pay the premium and use higher resolution files in the same way that some have preferred SACDs to CDs or returned to vinyl LPs (or use valves or prefer active speakers or whatever else is on offer). Good luck and good listening to all of you. Keep buying the gear and keep the industry and the choices going.
I am stubbornly sticking to my autodidactic and selfish ways of using whatever I like in any way I choose that suits me. If your 320k MP3s sound better than my 320k AACs and someone else's 24/96 files sound even better than my Apple Lossless files then well done. You are probably as happy with your setup as I am with mine.
Stuff the homework, the links, the downloads the tests and the overbearing "this is for your own good, now put on these electrodes", tub-thumping acolytes of 'The One True Way'.