Ok I stumbled across this and had to create an account just to add thoughts.
As a Pro Tools operator I have a few suggestions.
1: treat your sample library as hollowed ground. If you have flac convert once to wav for your samples and leave them alone. buy another HDD and admit that storage is cheap. You'll end up copying your samples into your session folder. You'll need the space.
2: you mentioned either aiff or wav. broadcast wav is industry standard. when creating session (no matter which daw) choose wav.
3: don't upconvert your files unless your session forces you to.
4: if you must compress your samples for your pleasure listening library for practical reasons buy another hdd and keep em separate.
5: http://www.grammy.org/recording-academy/producers-and-engineers/guidelines
read it and learn it. The documents here will help you to get your sessions
up to industry standard and improve your workflow. This info applies to any
daw.
Sorry that this isnt all exactly HiFi related but I just had to chime in.
Good Luck on your beat making and appreciation for music. I hope this helps
a little.