http://www.mp3-box.org/mp3-vs-wav-quality/
Mp3 vs. Wma?
Is there any difference in quality between mp3 soundtracks and windows media audio (.wma, NOT .wav) soundtracks that are encoded at the same bitrate?
MP3′s have extremely complex encoding schemes, and they’re designed to be the best around for the size of the file. If you’re really picky, you’d probably think the MP3 sounds better, but the WMA probably sounds just fine to most people. I’d go with the MP3 though because it’s more widely used. You might run into issues with the WMA if you try taking it to different computers or putting it online, etc.
Mp3 vs. WAV – Music Quality and Mp3 Artifacts