<< ogg vorbis is an open source audio compression format generally considered to be superior in quality to mp3s >>
Plus, being open source, it is totally free and there are NO ROYALTIES to pay anyone when you want to use it. Most people don't realize it, but if you were a small band who wanted to distribute MP3's on the web legally you'd have to pay.
The sound quality is great, plus you can encode in variable bitrate...but I think some MP3s can be VBR now too right?
<< How come the people who always "realize" they are in the wrong forum have high post counts? >>
Because senior members are usually smart enough to "realize" they screwed up...