The most suprising about this thread IMO is that it took 25 posts before OP was called a troll. And maybe that some many "good" people took the time to reply.
Yes there is a few. Could it be because some techniques are better for compressing stuff than other? If better compression means you loose data, which is basically what you are claiming, does that mean RAR and 7z throws away data as well compared to Zip?there's many different formats called "lossless."
It couldn't be because of people like choices? If I want to save my music as FLAC, there is no reason to use the time to encode in WMV lossless first and wasting a lot of time. (And power...) Also if I rip just to burn out to CD, Wav is the most compatible format with burners. For storing audio "long term" Wav makes no sense!the option to rip cd tracks to wav lossless (almost 500 kbps higher than the best wma) wouldn't be in windows xp if wma lossless was as good.
Please go look up some articles on what lossless means before commenting further. Please!940kbps isn't enough, no matter how "lossless" it may be.