Dont know why is a waste. I spend my money on things that DO make a diference and that i DO HEAR the diferences : HARDWARE.
Speakers do not sound all the same.
CD players are so diferent like apples are to micro-wave hovens.
Amplfiers are endless source of discussion and cables follow the same path.
MP3 on the other hand is a different subject.
Do yourself a favour and take good quality CD, rip it to your PC with uncompressed file format.
Then rip it to MP3 192k with LAME.
Play them both.....blind folded !
And about compressing/de-comp/comp/de-comp = crap theory ! MP3 always removes the same old information (audible freq + next neighbour freq) so you have pratically the same bits as in the begining. This of course, if it is done properly.