I use dBPoweramp, and I rip to FLAC at 44.1 kHz/16-bit. Standard CDs are 44.1 kHz/16-bit - and, at the simplest level, you can not produce anything which wasn't there in the first place...
FLAC is generally more commonly accepted by a range of players, and can also carry much more detailed metadata.
Another vote here for dBPowerAmp for ripping my CD's into FLAC files.
Over the years I've ripped over 1500 Cds, almost exclusively via dBPowerAmp. Easy to use, accurate, and compared to EAC, fast. I did try EAC but every CD took an age to rip so jacked that in.