need crash course in using digital music.

just getting back into hi-fi and need some help understanding all the new "stuff" that's out there regarding digital music. i have owned an ipod for years but that's really about it. have been a CD guy most of my life and still enjoy them, but would like to venture out a bit.

my basic (and i mean basic) understanding is this:

there is a way to download very high quality recordings and burn them onto a disc. said disc then sounds fantastic?

i need an idiots guide to do the above. from the very basics on up. are there any web source's that can help me or even a book?. would like to do this asap because the timing of my transport/dac purchase just got pushed up. i'd like to be able to use it when it arrives (other then regular cd's that is). was thinking i had a couple months before getting something but now it looks like next week.

have got a PS audio PWT/PWD inbound. from what i understand....it's work fine with most of the "new digital music". various formats and recording resolutions. i'll get the equipment sorted out via the owners manual. need some help with the source music though.

don't need the super technical side of things but do wish to have a good understanding of the various formats, types, methods, materials ect....

it's all new to me. things like 24/48, 96, 192, FLAC, native, ect......currently have little/no meaning. my experience ends with clicking the tab at i-tunes. i've got alot to learn

if anyone could point me in a right direction, it would be greatly appreciated.

thank you