Another 2cents from me:
I think that Lou's rage over mp3's comes from trades that he had made in the past that ended up being mp3 SHIT.
Follow me on this one...
Let's say you have a .wav file. You take that .wav file and encode it to mp3 because its 1998 and no-one knew any better. That mp3 file that you just made will probably sound just fine on your computer, and on the higher bit-rate settings will be almost un-noticably different in sound.
Here is the problem: people were taking those mp3 files, converting them BACK into .wav so that they could burn them with their new-fangled cd-burners because it was 1999 and we had the technology.
Imagine that a wet sponge represents a .wav file. When you convert to mp3 you essentially 'squeeze' the water (data) out of the sponge (file). Converting back to .wav is re-shaping the sponge, but minus the water. When THIS happens, the difference in audio quality is obvious and unmistakable.
That's why Lou is so pissed.
Its not hard to learn. Quality is worth the wait.