No point to encode in mp3 - you'll always get inferior result than modern age codecs like Opus for example. Even Vorbis is better. FLAC is useful for storing the master audio (even though it's limited to 24 bit, while really professional editing can go even up to 32 bit per sample). Final result for using (not the master for editing) doesn't need to be higher than 16 bit though. WAV doesn't support more than 16 bit depth anyway.
See [url=https://people.xiph.org/~xiphmont/demo/neil-young.html]https://people.xiph.org/~xiphmont/demo/neil-young.html[/url]
I'd say, the only benefit in having FLAC is not in listening to them, but in order to be able to encode in any lossy codec you want to. There is no audible difference really (if you used a decent modern lossy codec of course, which is NOT mp3), but having the losless original is needed to avoid double loss when reencoding.
Post edited June 26, 2014 by shmerl