@Nalin true brother, everything you said is true..and I totally got your point ( having the same disease)
BUT
I do have a small CD collection and ripped few genuinely great mastered ones to both 320kbps MP3 and FLAC with the same program ( dBpoweramp) but in a blind test (specially in a mobile rig with VERY EXPENSIVE) probably will miss 10-20 percent.
Yes, in a proper computer with my regular DAC/ Amp combo it is not difficult to distinguish ( for us audiofools, it is indeed a big difference, but for most people it's yeah...whatever...you have good headphones)