How much of your library is AAC? Maybe consider NOT buying from apple? (get similar quality MP3 from amazon or ?) There should NOT be difference between WAV and "lossless" format, since the lossless file is lossless. The major drawback in using WAV files is the file size, and bandwidth to move on your network. FLAC would be better "native" format. You could always transcode to MP3, but I believe that would introduce additional degradation. If you don't have many AAC files, and your server doesn't have problem with transcoding, maybe just leave as it is?
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