From the site...
"FLAC stands for Free Lossless Audio Codec. Grossly oversimplified, FLAC is similar to MP3, but lossless, meaning that audio is compressed in FLAC without any loss in quality. This is similar to how Zip works, except with FLAC you will get much better compression because it is designed specifically for audio, and you can play back compressed FLAC files in your favorite player (or your car or home stereo, see supported devices) just like you would an MP3 file."
I want lossless backups of my CD collection to put in a jukebox machine. There are only a couple lossless codecs, I am going with flac because it is also supported by my portable media player. Sadly only one of the juke progs I found suppouts flac.