We have knowledge of WMAv2 coding, by looking at the ffmpeg decoder. (WMAv2 is the bitstream format of WMA standard)
Based on this, I personnaly think that wma can be a little better than mp3 for mid-high bitrates (because it doesn't features the sfb21 problem) and about 20% better at low bitrates (because it features a kind of PNS and seems to have longer windows).
However, decoding is obviously problematic because of the huge VQ tables.
As Ivan pointed out in another thread, we have to remind that WMAv2 is still a quite "basic" encoding scheme, theorically quite inferior to AAC, as an example.
It even shares a stupid mp3 defficiency: MS switching is done on a whole granule basis.
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