^^I'm not a "music snob" but if all of you that can't tell the difference are right then answer me this simple question.
Why on earth when they record in the studios are they using the Largest capacity format possible, either the analog tape or the digital equivalent of 24/94 or 24-192?
Simple answer because there is a Massive difference. I can tell easily on my set up, but I do admit if you are using an ipod/sound dock etc. or little PC speakers or ear buds then the differences are almost impossible to detect.
I could play a song off Leftoverture by Kansas, a vinyl rip in FLAC then a 128 KBS or 320 KBS MP3 and everyone one of you would be able to hear such a massive difference you would never look at a lossy codec the same again.
For portable players, or if you are hard pressed for space on your HD then I understand and sympathize, me I have all my music in Lossless format, if I need more space I get another HD they aren't that expensive now that Thailand's factories are back at 100% and have been for a while.
And when you attend a live concert, would you be happy if the band played every 5th note of a song? I doubt it very much, and that is what compression does to a song.