You know when you think you have a huge empty hard drive, and in reality after a year or so it is crammed full of audio and video files that you need to go in and do something about it.
When I got my iMac last year I decided that I would leave my iTunes library as it was in Apple Lossless format, even though it took up a lot of space, I wouldn’t lose anything in compression.
However after much thought (and listening to various views on MacBreak Weekly) I made the decision to convert my library to AAC 256kbps.
I had to do it in stages as my spare hard disk space wasn’t large enough, but I managed to reduce my library from in excess of 40GB to just 13GB.
I can always re-rip the CDs if I want to, so it’s not really like I have lost anything. Also I couldn’t tell the difference between Apple Lossless and AAC 256kbps.