All4MP3 has released
MP3HD, their lossless MP3 codec.
If it is what it claims to be, owners of MP3 players will be able to listen to sound comparable to FLAC.
Supposedly, it is backwards compatible to MP3, although they offer a plugin for playing in WinAmp (which makes no sense to me).
Command Line Encoding and Comman Line Decoding (to wav) are available now.
Free for private non-commercial use.
It will be interesting to see if this catches.