Comment by nitrogen

There is some definite perceptible loss in accuracy in the treble even at V0 or 320. There's a song with a synthesized treble effect that sounds quite different on MP3 vs. FLAC by Planet Funk, I think it was "Who Said? (Stuck in the UK)".

Other than that MP3 (or Vorbis or Opus, which would probably do better on that song) is great for portability, but I'd still use FLAC for storage.