MP3 vs CD

["Robert Heckendorn" meerkat]

I have a stack of Bernie Krause's wonderful CDs.  I have visited
Bernie's site recently and noticed that the store is filled with
192kbps MP3s.  This is the iTune model of delivery.  This is either a
technical question or a "golden ear" question and not meant to imply
anything bad about Bernie and his fabulous recordings... is  192kbps
as good a recording as a CD?  This seems to have been a debate when
iTunes came out and I haven't really heard much except for speculative
comments.  What does this group of true audiophiles think about this?
 Is this discrepancy in quality a myth or fact?

thanks for any comments,
cheers,