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JLF65 has a little treat for all the FLAC fans out there. The homebrew developer has released an unofficial update for sakya's LightMP3 app that includes a FLAC playback feature.
JLF65 says that this is being considered a beta release as it features "one BIG bug". Right now, the playspeed (left/right) and suspend features don't work with FLAC files. The developer recommends that users should not use these two features when playing FLAC files.
LightMP3 sakya has also commented that JLF65's FLAC playback addition will make it into the next LightMP3 release. Sakya also noted that Media Engine support for MP3 and ATRAC3 are in the works.