However, with the MP3 judgment rippling through the world, I'm interested in perhaps moving to a different compression standard. Before I do that, I'd like to ask a question: what lossless format would you recommend for making a digital "master library", which could be (relatively) easily downsampled to a compressed format? Important factors would be true losslessness, filesize (smaller than PCM WAV would be nice), embedded metadata (id3v2-like), existence of automated ripper software, and (to a lesser extent) open-source implementation of such software. Widespread playback implementation of the lossless codec is not an issue for me; the lossless library would likely be burnt to archival DVD media and stored after being downsampling with the chosen compressor.
The reason I ask is this: I've got a 20,000-track re-ripping job ahead of me. I'd like to do that just once, lossless, so that years from now, when I decide to jump from Vorbis to "komprezzor_2039_1337" or whatever, I don't need to drag out the old plastic discs. Thanks!"