TB you can take any vinyl record and record it to cassette, just like we all did back a few years ago.
Do you all see the symmetry? Cassettes were heralded as the next greatest format, the recording industry went into panic mode, "The Sky is falling, no one is going to buy music anymore, they will just pool their money and buy one record and make illegal copies!"...
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Bollocks and Rubbish! We all ended up paying a big levy on all blank tape that goes to the media companies, the same as the $20.00 on a 50 pack of CD-R's you buy, they are assuming you are going to burn something illegal regardless of whether or not that is your intention, that is ridiculous as well.
It has all happened before, we did with our primitive analog equiment in a couple of hours what takes the digital generation a couple of minutes.
As for the quality of i-tunes or any lossy codec out there...I can tell the difference on my reference system. If a recording is well done then it sounds great, if it's lacking in any respect then that shows up instantly.
Bose wave radios, i-pod sound docks, i-pods with ear buds, none of them can touch a quality stereo/surround system to put you in the front row of a concert or the recording studio with the band you are listening to.
I would accept a rollback to vinyl and make it illegal to possess any digital format whatsoever if that is what it took to keep musicians creating and releasing music. But they are always going to do that whether they make millions of dollars or a comfortable living like the rest of us.