MP3 is a lossy format so I would practically guarantee that you’d end up with a smaller file but that’s not the purpose of FLAC. Lossless encoding makes a file smaller than WAV while still being the same data.
> e.g. floating point for mastering
I’m 0% sold on floating point for mastering. 32bit yes, but anyone who’s played a video game can tell you about those flickering textures and those are caused not by bad floating point calculations, but by good floating point calculations (the bad part is putting textures “on top” of each other at the same coordinates) . Floating point math is “fast” but not accurate. Why would anyone want that for audio (not trying to bash here, I’m genuinely puzzled and would love some knowledgeable insight)