320kb/s MP3, despite being lossy, can be made to sound almost perfect.
Unless you listen to classical music on a very high-end system, it will be hard for most people to tell the difference with CD quality.
Proper mastering and quality of player, amplifier and speakers matter 100000 times more than the final medium, provided it is not shitty 128kb/s MP3...
A rock-solid simple CD player with a good DAC, a hi-fi amplifier and great speakers is all what you need for fantastic playbay, provided you careful choose CDs that are well mastered and not brickwalled...
This is when I want to treat myself with a quality listen, like DTRW first listen; most of the times I am happy with my Samsung sending Google Play MP3s via Bluetooth to my Blu-Ray player, which is technically horrible but still quite enjoyable !
Forget about LP, SACD, DVD-A, HDCD, 192/24 flac files... All useless