MP3, WMA, OGG, FLAC, what's it all mean to me?

MP3, WMA, OGG, FLAC, what's it all mean to me?
These are some of the different audio formats in use today by computer dj software. They all compress your CD music in one way or another to take up less disk space, and less bandwidth while downloading or moving from drive to drive. With the exception of FLAC, the other formats are what are called "lossy". This means that some of the audio information is lost when encoding standard CD audio to the respective format. The loss occurs in the range not audible to humans for the most part. A quick explanation of the main formats used:
MP3: The most popular format around today by far. Shows no signs of letting up, as there is no copyright protection built in, and files can be moved around easily. This is the format you will find most prevalent on the internet, and is what most DJ's still rip to. Almost all DJ software will play MP3 files.
WMA: This is Microsoft's format, which includes digital copyright protection. Licenses must be obtained for the files to be able to play. There are many obstacles to it being a preferred format, and it is linked closely to Microsoft's operating systems architecture, so developers are not always keen on it. Most pay per download sites like Napster, Walmart, etc. use this, and DJ's are having to go through a lot of bother to burn them to CD, and then re-rip them into MP3 format. Seems like more trouble than it's worth.
OGG: This is becoming more popular these days because it is a free format (developers do not have to pay royalties on this format), and it sounds a little better than MP3. Look for some big advances, albeit slowly as it takes on more market share. It is supported by programmers who do it on a volunteer basis, and is a good bet for the future, as it should lower software costs.
FLAC: This is a lossless compression format, similar in style to zipping a regular file. The file sizes are still large though, and it is not easily streamed across the net due to that. It is more suited to the audiophile than the DJ, because of the high noise floor at a DJ event.