I've read somewhere that the technology Sony has used for MDs [Mini Disks] is one of the best compression algorithms since the birth of digital audio
It must be Sony's commercial that you've read
Most guys envoled in music (recording, production etc.) will tell you that "MD sounds very cold". They stick with DAT more then 15 years.
MD uses ATRAC audio coding system wich compresses 44.1 kHz / 16 bit audio to approximately 1/5 of the original data rate (4.83:1).
Windows ACM codec is available for Sony ATRAC3, also known as MDLP or MiniDisc Long Play. The codec includes support for encoding 66kbps, 105kbps, and 132kbps streams. You can get it here: http://www.minidisc.org/atrac3.zip