In-Game music player and .. radio?

aside from being very cool to have on hand, what kind of capabilities does this thing have? I would assume it's limited to .ogg (that's fine, since it has equal to smaller compression than .mp3 and it's free = no licensing issues!)
Is it also safe to assume that only I can hear what playing, since it would otherwise be chaos with everyone changing the music (ashame, I'd love to get songs from the new Front Line Assembly for everyone to hear). Maybe we can get some start of IRC music/playlist channel going ingame to share the music we are listening to (as long as you own the original CD*, of course!). just a thought.
And isn't there supposed to be some kind of radio broadcast or something involved with UT2004?

.edit: not radio, but broadcastTV to watch clans battle. how does that work? and how does "recording" work?

*wink

stremaing probably wouldn't be such a great idea, even with the 300kb/sec bandwidth Comcast (<- Satan) gives you (and a measly 40kb/sec up, or something like that). I was thinking of using the built-in IRC to share cool soundtracks (i'm not a file-share monkey or anything). Just a cool way to strengthen the community (as big as it is) and just enjoy kick-ass music while playing. I think streaming would be a feature that needs to be coded or mutated into the current build, whereas with IRC, all one would have to do is download into the music dir of UT2004, no special modification required.
Also, interesting note on the mp3; I'll try that when i get home from work today...