That is, if you've imported it onto your computer.
I myself use MP3 at 128 kbps, but I'm slowly-but-surely making my way over to Monkey's Audio.
Nothin' like lossless!
WAV? You realize that's gobbling up your HD space.
I recommend switching to Monkeys Audio or FLAC soon.
They keep the lossless quality, but compress it by around 30-50%