Al, Fr0gs decription of tags and recomendation of using FLAC is good. WAV files do support tags, but they are not standardised in the same way that they are for mp3 or FLAC, so chances are that the tags will only work in the program you ripped the CD with and maybe a couple of others. This was not a problem when you used WMP as you were ripping and playing the files in the same player, so the tags were still working (although I suspect that actually WMP wasn't tagging the files, but simply remembering the information in its own database).
To get the functionality and quality you want, use a decent lossless format with error resilience (for long term storage) such as FLAC, when it decodes, it will always give you the original PCM stream, the same as a WAV would (actually possibly better since WAV has no error resilience and so could degrade due to HDD errors). It will also take up less space.
I have found in the past that although EAC is generally the best option for ripping CDs (it can even extract hidden tracks from the pre-gap), it has occassionally given poor results on CDs with some forms of copy protection (could be I should have changed some settings) whereas WMP or Media Monkey gave acceptable results.