Earlier I noted Easy CD-DA for file conversion but forgot that it only supports Redbook format. Sorry for the bad post.
If you are converting between wav and flac, the best tool is going to be the actual FLAC front end - get it here: http://flac.sourceforge.net/download.html
As for the PW DAC - I've posted a more extensive review in this thread here: http://forum.audiogon.com/cgi-bin/fr.pl?ddgtl&1245900512&openflup&56&4#56
Good luck!
If you are converting between wav and flac, the best tool is going to be the actual FLAC front end - get it here: http://flac.sourceforge.net/download.html
As for the PW DAC - I've posted a more extensive review in this thread here: http://forum.audiogon.com/cgi-bin/fr.pl?ddgtl&1245900512&openflup&56&4#56
Good luck!