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When Steve Jobs announced the iTunes Music Store, he said that the AAC file format sounded, in some cases, “better than CDs.” That’s a clever way of saying that AAC doesn’t sound exactly the same as CDs, which it can’t, because AAC is what’s called a “lossy” compression method. That means it loses information when it compresses an audio file. This is different from Zip or Stuffit compression, which you can use on data files without losing a single byte. So by definition there’s no way that AAC can preserve the full sound of an AIFF file.
This means we’re not there yet – that is, we’ve got a ways to go before we have the whole online music distribution thing working correctly.
Music downloading is still just the Millenium version of radio – a good way to hear new songs, and even take them with you when you’re out.