So that's about 30% savings compared to WAV, right? Not all that impressive, IMHO.
OK, I've now ripped a few more songs as Flac, and it seems that the first few I chose (the first of all was United States Of Whatever) came out at the top end of the size range. Looking at a few more, they seem to come out anywhere between 500 and 1000 kbits/s, averaging maybe 850kbits/s for Royksopp and 750kbits/s for Simon and Garfunkel. That's about 40-45% less than the original WAV.

Peter