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Vinyl records outsell CDs for the second year running
(www.theverge.com)
This is a most excellent place for technology news and articles.
This is true. That said, I've seen people claim that nobody can tell the difference between lossless and 128kbps mp3, but that's complete bullshit.
Though once you get above 192, it's pretty indistinguishable.
Would really depend on the version of MP3. The first versions had some major issues with artifacts being introduced. People probably listened to that and concluded all compressed music must be shit. Later versions were much better, even though I would think 128k is probably too low and would be noticeable with some effort. I agree, starting at 192k and people can't tell anymore.
Does anybody use MP3 anymore? I don't really know to be honest.