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There have been some releases on SD already. No more than a handful I don't imagine. I know two: Rolling Stones and Robbie Williams. There might have been more.
MP3 is still a lossy format. Even at 320Kb/s there is loss, it's just a question of whether the loss is perceptible or not.
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Always read stuff that will make you look good if you die in the middle of it.
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