I'm in my late 50's and in my lifetime I've collected music on vinyl, CD, mini disk and finally mp3. About 15 years ago, I got rid of all physical media and put the whole lot on to digital media. I could not go back to physical media, but ironically, I still buy cheap secondhand CDs from eBay, Discogs or local charity shops to fill any gaps in my music collection, always taking care to rip to FLAC format, so you get the nearest possible copy of the original CD. I did fire up my Sony portable Mini disc player last week MZ-R410, (I've kept a few minidiscs luckily) and the sound is much better than any music apps on a computer or mobile.
I've got 1,000+ CD's and will look to flog them if the demand is to be believed. I used to save *.mp3's in 320K and also lossless FLAC also but am in the process of saving them in 128K now, Rob, as my older ears can't really notice the difference in quality these days.