BTW, I don't think the opinions about MP2 quality in the linked Wiki article are necessarily true. The article claims that MP2 is as good as MP3 at higher bitrates, from 192 kbps to 384 kbps. I ABX tested some problem samples that were encoded in MP2 format at 192, 256 and 320 kbps. I think they were easier to distinguish from the lossless source than LAME MP3 VBR at about 200 kbps. The writer(s) may not be aware about the constant development of the LAME and some other MP3 encoders. As far as I know, the MP2 encoders have not practically changed since the 90's and in general the format limits what is possible. For instance, Musepack was originally based on MPEG-1 layer II, but it was radically changed before it became what it is now.
The other, technical, descriptions in the article seem to be quite correct.