I would look beyond itunes to do your ripping. 1500 discs will take some time and a fair amount of prep up front will pay off. Look at dbpoweramp.com. They're an independent software house, nothing to do with me btw, and you may find their website is a very useful resource. They also provide ripping software which ensures you get the best possible rips, and there are batch facilities so that, once ripped, you can convert your collection between different formats in bulk. It's not for the entirely faint hearted, the high quality ripping business, but nor is it rocket science.
I would rip to flac as it's the most convenient full quality format. This also gives you the option of using your ripped files as a source at home, instead of cds. Once you've ripped them, they're so much more convenient to use, and there are sound quality gains to be had as well. Hi fi players are emerging to play the files directly (e.g. Linn DS range).
Sorry to overcomplicate!
I would rip to flac as it's the most convenient full quality format. This also gives you the option of using your ripped files as a source at home, instead of cds. Once you've ripped them, they're so much more convenient to use, and there are sound quality gains to be had as well. Hi fi players are emerging to play the files directly (e.g. Linn DS range).
Sorry to overcomplicate!