You can rip to FLAC or some other lossless codec. The compression ratio isn't as good as MP3, but at least you don't have to worry about "missing" anything*.for music, I mostly own original cd's of the music, so the audio is crisp and clear when I want to listen to some jpop,
* A few CDs out there use pre-emphasis. To play them properly, you need a ripping program that can do the de-emphasis in software. Of course, same goes for CD player software.