What is the optimal setting for importing CDs? When you use iTunes to import a CD you have several options -- "AAC Encoder," "AIFF Encoder," etc.

I'd like to have the best possible sound quality and avoid any sort of lossy compression.

Which setting, if any, allows me to do that?

I noticed the "Apple Lossless" option, but it sounds a little proprietary. I'm suspicious. So I guess my goal is the above, but using a cross-platform standard file format if possible.
I would recommend using the AAC MPEG4 set at 320KBS. We have done blind tests between this &amp; uncompressed in a hi-fi shop, and no one has been able to tell the difference. AAC is a great codec &amp; 10 years newer than MP3. The other option (if you have the room) is to leave them uncompressed.