So you think that encoding a bunch of files that are sitting in a directory on your computer is no less hassle than swapping hundreds of CDs in and out of your CD-ROM drive?

I respectfully disagree. When reripping, you have to swap a new CD in every few minutes, requiring that you sit in front of your computer the whole time. Reencoding those losslessly encoded files can be done by setting up a batch job and letting it run for days on end, if need be, without any further intervention.