+1. I store originals (rips and etc.) in FLAC and then encode in Opus (around 140 Kbps) to actually listen to. 140 is an approximation of transparency level, it can be lower according to these tests:
http://listening-test.coresv.net/results.htm
Yes, I have it installed on a Sansa Fuze player. Waiting to get Jolla 2 handset when it will come out, and then will probably play it there. I'm sure though that VLC would handle it just fine on any Android device as well.