I'm fairly new to all of this, so please bare with me:)
Musicgiants.Com (http://www.Musicgiants.Com) offers WMA (lossless) downloads @ 1092-1100kbps. Now, I know .flac is based off VBR, rather then CBR, (like PCM) so the streaming of data is identical when there's actual music being played. So, I guess my question is: If I were to d/l from this site and then convert the file back over to .wav, would I be losing ANY quality what so ever? Would the song be exactly as it would be if I were to just purchase the cd-a already processed @ 1411.2kbps? Do WMAL's emit the same quality of sound as .flac or .wav's even though they're advertised as having a much lower bit rate?
Yes, WMA lossless is lossless, you'll get the same quality as from audio cd. There were reports on WMAL changing track length by milliseconds, but that will not affect any audio quality at all.
Beware the DRM thing! Most wma stores include that kind of restriction. Like, you'll be able to play your favourite audio cd only in the kitchen cd-player, but not in the car or living room. Very inconvenient, to say the least.