I don't have info on how much bigger a lossless file is that one in 128 to 192 bps. I did several files in a couple of formats, but that was a while ago.

Can you hear the difference? On an airplane? I can't - too much ambient noise even with good Bose or Shure noise handling earphones. When played through a good stereo or free standing set of powered speakers - I think so. It depends on what you listen to. Quiet oboe, violin, pure tone voice or piano passages will reveal more about the quality of the recording than some rock and roll or more raucous music, it seems to me.

I just removed an old recording of David Oistrach because even at 192 bps the technology used on the recording I bought was very bad.

In the end, they are your ears and your listening habits, so probably best to go by your own experiments.