This may be a noob question, but why don't more people use this format? Based on what I've read it claims to be able to make a lossless copy of a song at a considerably lower filesize than FLAC or any other Lossless codec.
Even if it's not that widely supported, you could at least use this as the format to store for collective purposes.

Also, what would be the best audio codec could I use to store a Blu-Ray Rip Audio track closest to its original quality?