It will take you a long time to rip that many CD's, I have done a collection of 700 discs twice as I initially ripped them in as MP3's, then went back and re-did it in AIFF, both times it took a month or more of spare time, so by my rate, 1,500 will likely take two months, whatever and however you opt to do it (I would recommend doing it in lossless or raw (AIFF/WAV) files) make sure you back up the library frequently.
I suggest doing it totally uncompressed/raw as storage is cheap (TB drives are easily had for <$80) and you can always compress them to anything you want, MP3/AAC at any bitrate down the road, while maintaining the originals. You can't make uncompressed out of MP3/AAC (well, you could but you already lost data, and can't ever get it back, whereas if you start with some form of raw or lossless coding, you always have the native CD data on your drive.....
I suggest doing it totally uncompressed/raw as storage is cheap (TB drives are easily had for <$80) and you can always compress them to anything you want, MP3/AAC at any bitrate down the road, while maintaining the originals. You can't make uncompressed out of MP3/AAC (well, you could but you already lost data, and can't ever get it back, whereas if you start with some form of raw or lossless coding, you always have the native CD data on your drive.....