I just read your comment/question, so forgive me for my tardiness.
I just did a little comparison. I do have a decent stereo system so it's fairly easy for me to differences.
I just did a few tests.
I have a AAC 256kbps song that I downloaded from iTunes.
The downloaded version sounded better than the iTunes Radio version.
I then compared to Spotify subscription and Spotify subscription is at 320kbps AAC. I don't know how to say this, but it sounded pretty darn close to the 256kbps AAC file that I downloaded from iTunes.
I then have another song which was a live performance of an eclectic big band with no audible amounts of audio compression or limiting, but most "pop" music has compression and limiting to some extent, which may alters the sound quality.
When I performed the comparison between Spotify 320kbps AAC and a 16/44.1 AIFF rip from a CD, there was no contest. AIFF sounded better, it had more clarity, better low level detail for the softer passages, and a little more accurate bass.
I just signed up for the 30 day trial period. I think Spotify did a decent job with the UI as it's pretty straightforward interface, I checked out a variety of songs and it appears to have decent versions. I did try Tidal, which is Lossless, but at the time when I tried it, it was just stopping to buffer too many times and I got annoyed and simply stopped using it. I have been having problems with my ISP and I've decided that until the ISP connection is better, that I'm not going to sign up for anything more than iTunes Radio right now and that's what I'm going to use because I listen to mostly my catalog of music which is predominately ripped from CDs to AIFF or I am starting to download 24 bit files from HDTracks, Bowers and Wilkins. 24 Bit files have more dynamic range and low level detail and a lot of the recordings (you have to watch out for this, because there are a few that are just the same as the CD and not worth the money, but that's only in rare incidences) have no compression, limiting as they mastered the tracks to be as close to the original masters than the CD versions.
If you have a decent ISP connection, a decent stereo, then you might want to check out Tidal and compare to Spotify. Tidal is more expensive, but it's lossless.