ALL music is in a "wav" format as it passes through a computer sound card, regardless of the original source.
Wav requires no processing, and can be sent directly to a sound card.
Incorrect -- WAV files are still an encapsulation container -- but the samples within, haven't been manipulated in any way. The decoder still has to extract the samples from the chunks, prior to sending to the sound card.
FLAC takes much less processing to convert to wav compared to an mp3. It is about 1/4 as many operations.
I have not seen any appreciable difference in the decode time in my tests...
There is a general lack of FLAC enabled DJ software players. I think that will change over time.
Yes -- it will get less IMHO. My software can decode and play FLAC, but I have it disabled, along with many other formats it can play. Strictly a financial decision on my part, as it raises support costs, and lowers ROI.
FLAC is lossless, 55-65% the size of a wav file, and fully taggable. Wav's are not taggable...at least not inside the wav file format. BUT, the real value of FLAC is for archive storage.
WAVs are fully taggable -- but there's no standard. If you look at the format of a WAV container, you will see that it is possible to put anything you want in there (including compressed data). Nobody made any effort to do so, because they were too big in the days of expensive storage, to have any ROI for building a tagging standard.
In theory, once I have FLAC, I will never need to put that CD in the tray again. Since I have ripped my full collection 4 times (160CBR, 192CBR, 224CBR, FLAC)...that has some advantage. IN each case, the bitrate was a compromise between storage space, and the overall quality of the signal chain. I improved the signal chain, or storage got a lot cheaper, and I would rerip. No more. Now I have FLAC, and my computer can just spend an overnight doing the conversion.
I do convert to mp3 @ 224 CBR for DJing, and mp3 @160 for my portable music player. In both cases, I can not tell a difference between that and a wav on the full signal chain. If I happen to improve the signal chain, I can go back to the FLAC files and re-encode at another bit rate.