The iTunes LP is Apple's attempt to recreate the "feel" of buying a physical record in an intangible format. Without lossless audio as a part of the package, though, iTunes LPs are much less than an album.
Do you love music? Have a giant hard drive? Maybe two? I'm guessing that might be the case, and here's what you should do: give up lossy audio compression for good for pristine lossless files.