My loser brother in law is doing this. He's more into hard rock and pop and he absolutely loves the convenience of his Ipod.
So much so, that he's ripped all of his cd's (and will sell them) and is now using the Ipod as his main music player for his hi-fi system (that I helped recommend - NAD, Energy speakers, surround sound, good cabling, etc). As a result, he wants to also get rid of his NAD cd/dvd players. He can't seem to notice the difference between cd quality and mp3. He's also trashed using the nad dvd in favour of his PlayStation 3 because it plays Blue Ray.
The upside is maybe I'll be "gifted" the cd and dvd player
(did I mention he's a tax accountant)