Why don't you go and see for yourself?
Ogg is at 1.0.1
The reason that mp3 sucks isn't because the RIAA doesn't like it, it's because it's a proprietory standard. People who make mp3s, make encoders, make players that do not pay liscencing royalties to the mp3 copyright holder are doing so illegally. They can be sued by the original developers of the codecs and standards.
from mp3liscencing.com:
PC Software Applications
mp3 Decoder · US$ 0.75 per unit or US$ 50 000.00 - US$ 60 000.00 one-time paid-up
Encoder / Codec · US$ 2.50 - US$ 5.00 per unit
mp3PRO Decoder · US$ 1.25 per unit or US$ 90 000.00 one-time paid-up
Encoder / Codec · US$ 5.00 per unit
Hardware Products
mp3 Decoder · US$ 0.75 per unit
Encoder / Codec · US$ 2.50 - US$ 5.00 per unit
mp3PRO Decoder · US$ 1.25 per unit
Encoder / Codec · US$ 5.00 per unit
What this means to a end user is that the products you use get slightly more expensive and if you begin to make your own mp3s then that could make you a developer. It's up to the owner of mp3 technology to decide what you can and cannot do with it.
Of course if you are like most people you can just ignore it and you'll get by fine.
Ogg is completely free. You can develope with it, make your own software with it, make your own songs with it and you don't owe nobody nothing and you don't have to answer to anybody. Plus if Ogg isn't up to your standards you can modify it and create your own superior standards.
Anyways it's suppose to be technically superior for music and streaming then MP3's anyways. In terms of bandwidth usage and sound quality.
They are also working on ways to encaspsolate it with different streaming technologies so you can use ogg as a sound carrier for a streaming music video for instance.