Music Server format?


I want to acquire a music server. No experience. What format should I use for storing music? WAV, FLAC, AIFF?
Looking at Sony HAP-Z1ES? Any thoughts?
Do I need to convert CD files to different format to copy to computer?
Web site to learn?

Thanks

Awooof
awooof
A Bluesound Node 2 replaced my well-appointed Mac mini back in April. I don't miss it one bit (pun?) in my audio system. 
DB power amp IMO is thd best for burning yo a HD and allows a very high quality uncompressed #8 flac file. Very close to wav without all the space .
This is several years old, but I think the advice is still valid.

http://www.computeraudiophile.com/content/309-computer-audiophile-cd-ripping-strategy-and-methodolog...

The TL;DR is use dBpoweramp or some other ripper with AccurateRIP support and rip to FLAC for your archive copy. Feel free to convert to other formats (like MP3, DSD, etc.) in another directory as needed to support your various playback devices.
not daunting if you buy a mac mini, which makes a dandy music server & use iTunes to control everything - it is dirt simple

use a Lossless compression scheme like Apple Lossless, etc.

mp3 is lossy, which means that some of the bits are thrown away -- these are things that are supposedly inaudible, tho many people disagree, so stick with lossless compression for all CDs

you need an external drive to stick the CDs in and you're there