Yeah, but that argument was compelling in 2005.
With storage as cheap as it is nowadays, a 15 MB FLAC audio file vs. a 3 MB MP3 really doesn't matter anymore. Those 12 MB cost nothing to store.
And to be honest, in cases where storage does matter, a 320 kbps MP3 is just a waste of space. A VBR MP3 with average bitrate around 200 kbps makes way more sense and nobody can tell the difference between that and 320 kbps in a double blind test.
So just maintain FLAC or other lossless for sharing music and transcode down when needed.