The short answer is that MP3’s are inherently lossy even at higher bit rates. You’ll need to migrate over to Apple’s AAC lossless, WMA lossless, FLAC, or APE to reproduce music in a lossless format. To that the the players would be Apple’s iPod for AAC, MS’s Zune for WMA and Cowon’s iAUDIOX5 for FLAC.
Source: http://revision3.com/tekzilla/