One of the best compressed audio formats next to FLAC. Quality is lossless and compression is a tad better than FLAC which may matter if you have thousands of music files to archive. The interface is easy to use and has all of the features for the average user, but if you want more tweaking you'll have to open up the command-line version for more adjustments.
The downside to using the APE format is that many of the popular portable audio devices don't support its playback. But it is perfect for storing files on an external HD.
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