Yes. Do a couple of blind tests with your acoustic system first.
> It's true enough that a properly encoded Ogg file (or MP3, or AAC file) will be indistinguishable from the original at a moderate bitrate.
Disagree. This claim seems to be ungrounded compared with others.
I can believe limitations with bit depth and sampling rate (although I'll take a chance to test myself if I get near good enough acoustic system). However, I definitely could discern in a blind test whether music I listened to was stored using lossy format with reasonable bitrate. It's usually quite audible with rock music that involves cymbals.