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MP3, MP3Pro, or Ogg Vorbis?

I am getting confused! I know all about MP3 but does anyone know much about the other two formats? For example, how long have the other formats been around, how much smaller are they and is the sound really equal to 128 bit MP3?

Is MP3 going to be dethroned? What about players, can a harddrive based player be software upgraded to support new formats?

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