If you want to build a digital archive of your music CD's I would suggest to rip to FLAC if you have the space, if you don't external storage is cheap enough to go that route so you only have to do it once. Once you've done that, converting to MP3 or any other format on the fly is easy, quick and all mp3 players will play mp3 format if you go that route, even apple.
Everyone's different and while you may be able to tell the difference on various formats on a good home system for portability I would do a test to see/hear what you could live with so you can carry more files. I would suggest to start out 192VBR rip conversions and higher to see if you can live with that or need a higher bit rate on your conversions. Just make sure that you volume match your tests so that you get good result for your taste or you could easily do ABX with foobar and the ABX comparator plug-in (free software).
Today there is lot of great ripping software free and IMHO most blow itunes away. They are easy to learn and don't contain all the bloatware of itunes, to mention a few look here
. For ripping to FLAC I recommend EAC (Exact Audio Copy), read my post here
, then I do what I state in this post
. Hope this helps.
BTW cable connection via the 3.5mm jack is hard to beat for sound quality, rare to ever hear of interference like wireless can pick up. Also can you provide me the link to the mp3 player that you state holds two cards as I've not seen that on anything other than video recorders, thanks in advance my question from your quote ---> i also saw the mp3 player that hooks up and can take 2 sd cards