disk space is very cheap

ripping is very time consuming (as is correcting freedb data)...

so, my advice is rip to everything to a lossless format first and keep those no matter what. Then convert them to additional MP3 or other lossy format...

The reason is that sooner or later there will be a new lossy format and having those lossless files is likely to work better than mp3 as source material for input to the new converter...

Also keep a back up...