Should have maked it more clearly that I'm talking about AAC tracks in movies and not audio files...
The following is taken from the faq:
Q: What kind of format is output after removing DRM?
A: For movies, M4V format, it's lossless and same as source, and will also keep the AC-3 audio, cc subtitles etc.
...but I will say it's not, because the AAC track in the M4V movie file is reencoded.