FLAC is a lossless audio format that Bleep is offering Autechre's back catalogue on. The quality is meant to be top-notch but to be honest I think I don't have the machinery to take advantage of the additional quality. MP3/Ogg is fine for me.
However is appearance does open up the interesting possibility of distributing copies of the original master recording without ever having to mix for CD or any physical format. At the moment it is difficult to distribute high-quality audio because the files are so much bigger and there is, to be frank, little audiable difference between them and the much smaller lower quality files.
As the technology changes though there is the exciting possibility that an artist might be able to send a track straight out of their final mix and straight to the audience with no compromise required because of a physical media.