Well, the sampling rate for a typical MP3 is about one one-hundredth
of that for a CD. So, go with MP3s if you like really degraded sound.

100:1??? bull****!
Both use a 44kz sample rate.
MP3 just uses a compression scheme that reduces the file size by about 1/5 -
1/10 depending on bit rate. You can save them in WAV at exactly the same
resolution if you are that much of a purist. The price of disk drives is so low
these days that this is a reasonable option.

I defy you to tell the difference between a 256 kbs MP3 and CD when played on
the normal stereo system in the usual home setting. In a moving car with 60 or
70 db of background noise your CD "quality" is totally wasted and you can
probably use 128k or even 64k.
320kbs MP3 is far superior to what you can get from FM radio, Vinyl or tape. It
is certainly better than the average stereo system can reproduce. If it wasn't
so good the RIAA would not have their panties in such a wad over it.
The people who say MP3s are "really degraded" are the same folks who think they
can hear the oxygen in their speaker cables. Most of us don't live in a sound
conditioned space with a $10,000 sound system and if you are really a
woodworker your hearing is probably "really degraded" more than an MP3 anyway.
There is as much bull**** going on in the marketing of stereos as there is in
golf clubs, exercise equipment and marital aids. If you really think it works,
it works.