What are you trying to do, listen to Flac in your home theater over WD TV Live?
There are a ton of ways, but I use
foobar2000 to rip and manage. It is a little geeky, but don't let that intimidate you, it is actually extremely easy to use once you get the hang of it. I find it more intuitive than iTunes anyways.
Then you can put the flac files on a drive and connect them to your WD TV. And that's it.