Ripping

If I understand correctly, ripping a CD produces a wav file which can then be converted to any format I choose.  That leads to the following questions:

 

1.       Can I convert to both FLAC and MP3 with EAC?  I understand I would need LAME installed, but can both be done and what is the process?

2.       If I convert to FLAC can I convert from FLAC to MP3 with EAC?

3.       Since both WAV and FLAC are lossless, is there any difference in the resulting MP3 depending on with which file format I start?

 

Your guidance is appreciated.

 

Mike