In reply to192kb/sec mp3s only lose frequencies inaudiable to the human hearing apparantly... so by that theory, its technically the same quality as a cd is it not?
like has been said, it's an algorithm that tries to take out stuff you won't miss. I find that with mp3s the high end aliasing sounds garbled and warbly, if that makes any sense. Like looking through plastic wrap rather than glass... it's not quite as well defined. Harshes out when it's really loud too.