Managing both Lossless and MP3/AAC versions of the same album

I've recently decided to keep a lossless version of some albums along with their mp3/aac counterparts. I would want to use the lossless version on my Apple TV to which I have a nice audio setup. I would use the mp3/aac version to go to my ipods (touch & nano). I was thinking of just keeping two playlists and selectively syncing to the appropriate device But will there be any collisions since the tags on the lossless and mp3/aac tracks will me the same (same album, same song, etc.) Do I have to modify any of these so they dont conflict? Thanks for your advice in advance!