WAVs don't have "tags" describing artist, title, album etc which a lot of players rely on
There are other lossless formats available which do: FLAC is free in the GNU/hippy sense, there's also "WMA lossless" and an Apple offering. Typically these offer some compression but not as much as MP3 does
The other thing to bear in mind is that terabyte drives on the desktop are cheap, but storage on hardware mp3 playing devices (ipods and phones and stuff) is still a bit pricier, so you might want to compress lower-quality files for those applications
There are other lossless formats available which do: FLAC is free in the GNU/hippy sense, there's also "WMA lossless" and an Apple offering. Typically these offer some compression but not as much as MP3 does
The other thing to bear in mind is that terabyte drives on the desktop are cheap, but storage on hardware mp3 playing devices (ipods and phones and stuff) is still a bit pricier, so you might want to compress lower-quality files for those applications