Of all the formats to encode music into, which is the best to do so in?
MP3,AAC,WMA?
Since I really can't detect quality like an audiophile I will bypass FLAC and WAV.

Well, it depends : mp3 is the most compatible with the devices while AAC and WMA are less compatible. But if you are looking which achieves the best compression ratio, AAC is the winner here.

FLAC is a lossless format so you should use it to do backups of your CDs. WAV is also lossless but uncompressed.

With storage as cheap as it is, I'd go with MP3 because nearly everything can use it.

Then I'll use MP3 since it is compatable with everything then.Thanks!

Not sure what you are looking to do here... rip a CD or two or hundreds. And honestly the note below is for more hard core folks in audio....

If you are planning on ripping your CD collection to MP3, I'd suggest reconsidering the lossless choice (flac or others). The primary reason is that the ripping an entire CD collection is something most folks only want to do once... doing it lossless gives you flexibility, MP3 locks you into MP3 format.

If you rip using MP3, you can't convert MP3 to any other format without losing quality (why would you do this? In the future a much better or newer standard may surface or you could get better audio equipment that you can detect the difference between MP3 and lossless on). Lossless format on the other hand can always be converted to new formats. On top of that, if you want MP3 for space savings, you can take all of your lossless music and covert it using scripts to MP3. This means having lots of disk space, but thats cheap these days.