What data are you compressing?
* The sensor system wants to do unit conversion for me. This data doesn't really have 32-bits of dynamic range, but for archival purposes I'd like to store the exact bits without adding another quantization step - that can happen later.
* The sensor system combines multiple ADC channels HDR style. I'd rather get the raw readings and do the combining myself, but don't always have access to it.
* Some more advanced preprocessed results, akin to a GPS solution. Linear predictor based algorithms are perfect here since the full possible set of values does have high dynamic range, but the upper bits change very slowly.
Can't say I haven't been tempted.
The price of 10 sound cards will be enough to pay for a whole wafer.