Flac is a lossless Audio format, but it does compress the file size smaller than the original file format, you just don't loose any data
Compression level 0 being the fastest and level 8 being the slowest but the smallest file size, default value is 5
I also prefer DB Poweramp for ripping and Batch conversion, excellent software, multiple tagging data base.
Alan
Turntable - Garrard 401/Jelco 750L/Ortofon Kontrapunkt B, Pioneer PLC 590, Micro Sieki MA505 , Denon DL103R - DIY Paradise Phono stage - Reel 2 Reel Studer A810, Otari MX55,Tascam BR20, Revox A77, B77, PR99, TEAC X1000 & 3440, Digital HTPC / Young Dac - Preamp - DIY B4, 821, Power Amp's DIY Avondale NCC300 Mono Block, Speakers Wilmslow Kit Volt BM220.8 / Scanspeak D2905/9500