I've only heard lossless sound once at a high end audio/video shop. They had the Blu Ray version of Black Hawk Down, and they switched back and forth between the LPCM version and the regular Dolby Digital 5.1 version, and the difference wasn't exactly night and day, but man... with some really good speakers, the LPCM just sent chills down your spine. Again, the speakers and receiver that you have are a huge, huge factor. If you have cheapo Wal-Mart speakers, you won't notice much of any improvement with lossless sound, but if you have some pretty high quality speakers, then the difference is pretty damn enjoyable.

The guys at Factor 5 who are making Lair, are including lossless 7.1 sound (like Resistance), in their game, and they claim that the sound improvement is significant, but they also understand that very small number of people will actually be able to experience it the way it's meant to.