I could hear the difference between 320 Kbps MP3 and lossless WAV in blind tests in my early 20s - though I needed headphones to do it, and it had to be a track I knew well, and I couldn't tell which was which. They were just different, and neither felt worse. This quickly converted me to using CBR 320 Kbps MP3 for everything, on the basis that it would be just as good as the original.
A couple of years later I found an ambient track that sounded messy at 320 Kbps, and that converted me to using flac instead. Disk space had got cheaper enough over that period that it made no meaningful difference.
THis was all years ago now (I'm in my 40s...), and I don't worry about it too much any more. Firstly, I still use flac, so it's identical to the original anyway. And secondly, even if I did use mp3, my aged ears probably couldn't tell the difference even if I turned the volume up to unreasonable levels.