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AAC
AAC is an ISO standard -- same as MP3. In fact it was designed to be a successor to MP3, and was designed by a group of institutions that include the developers of MP3. The target was to be better at half the bitrate, with a bitstream that is more appropriate to things like streaming on the Internet. I really don't understand the reluctance to use ITunes AAC. ITunes DRM may be a more of a gamble because it is not part of any standard I know. If you are really concerned about the DRM format going away just RIP a CD containing your downloads decoded to PCM. That will remain a very portable archival format for some time. Disclaimer: I participated in ISO standardization of AAC.
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