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Waves are still pretty big to be transferring over the Internet.
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Wav is so easy towork with (even I can do it), that I don't think that it's worth the trouble to even bother with anythingelse now that there is so much over-capacity available!
It is worth the trouble when you have to transfer the file over the internet, which is one of the reasons for MP3 compression in the first place.
the comressed files are for storage and transfer not playback. There is no need to store compressed files as drive space is very cheap. on the other hand as long as the decompression routine knew where the beginning of each channel was (and it should because that info can be stgored in the header) there would be no problem streaming the decompression