btw each flac file is like 50 mb.
Size of the FLAC file will depend on the length of the track, and the level of compression used (I think default is 5, max is 9), and how easy the audio is to be compressed.
Sampling my own collection, I see these filesizes from Pearl Jam's 'Ten' (Encoded using maximum compression, ie level 9).
Track 05. 5.44min = 35.6 MB
Track 07. 2.42min = 15.1 MB
Track 11. 9.03min = 48.6 MB
having files with huge sizes will not really work with a 30 gb mp3 player.
Well, that actually depends on how much you want to hear.
I have a Sansa Fuze with measly 8GB in-built memory, and i'm using FLAC on it most of the times. I have around 15 FLAC albums loaded, & 2 MP3 albums. I was initially thinking I might have to get an MicroSD card to carry around more music, but practical usage showed me that onboard itself would suffice for me. I still might get the card, but to be honest, the onboard 8GB can keep me content for portable needs.
However, I understand everyone is not the same. So I'd suggest using LAME encoder to convert from FLAC to MP3 to reduce filesize.
http://www.rarewares.org/mp3-lame-bundle.php#lame-current-sbd
LAME has a well regarded psychoacoustic model for MP3 encoding, however it's a commandline based tool. If you're not comfortable with the commandline, just use the LameDropXPd frontend. Drag & drop your FLAC/WAV files onto the LameDropXPd window, and it should create the MP3s in the same directory.
http://www.rarewares.org/mp3-lamedrop.php#lamedrop-current
if i convert it into mp3 what will the size of the file be?
The size of the MP3's will vary on the bitrates used. My encodings at 320kbps CBR (Constant Bit Rate) use around 2 MB per minute. However rather than using a CBR, I'd suggest using VBR (Variable Bit Rate) at V0 since it'll give you files of almost same quality as CBR but lower size. (Right click on the LameDropXPd window for encoding options).
m4a offers much better sound quality than mp3 for the same file size (this is very noticeable at lower bit rates).
Of course this applies only if your player supports m4a.
I believe he's going for MP3 because its compatible with all of his portable players. I might be wrong, but I think AAC is natively supported only on iDevices. Most other players either lack support entirely, or have to use 3rd party codecs.
Besides, the variances among codecs are 'distinct' only at lower bitrates, eg Vorbis & AAC are considered better than MP3 at 64kbps and lower. But at 256 or 320 kbps, the difference is practically negligible. So, as long as you're using decent bitrates, its better to look for the codec which has most support, ie MP3.