Why?
Because both audio and video files are stored in lossy formats, every conversion results in some loss.
So I will not do this and take a hit on loss.
What I will do is to use a better player like VLC Player so I don't have to hunt down codecs.
I am seeking to standardise both my audio and video file formats.
For each of these types, there seems to be a significant number of choices of format to convert to.
Like so much that I have found with IT research in the past, it can simply be overwhelming.
Would anyone here--hopefully very familiar with the process and criteria--be able to point me to an internet resource(s), such as a 'guide', or overview of the file formats and criteria for selection of format to convert to? I guess that is one step beyond Wikipedia?
Does anyone here know if such a thing exists?
Any suggestions and guidance is appreciated.
Thanks very much.

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic