• Vorbis files can compress to a smaller file size and still sound fine; Vorbis' better compression will cut down on bandwidth costs and keep you from being a victim of your own popularity.
• Vorbis' standardized, easily-edited comment header provides a space for artists to scribble all sorts of notes about themselves to distribute with the music; For musicians this helps fans find you, your site, and where to buy your stuff.
• If musicians decide to sell their music in MP3 format, they are responsible for paying Fraunhofer a percentage of each sale because they own the patents. Vorbis is patent and license-free, so musicians will never need to pay anyone in order to sell, give away, or stream their own music.
For a given file size, Vorbis sounds better than MP3. This means:
• You can keep your music collection at about the same quality level, but it'll take up less space
• or you can have your music collection take up about the same amount of space, but have it sound better.
• Vorbis already enjoys widespread player and there are at least a few portable devices that play oggs.

Here is a list of software ogg players for various platforms. http://www.vorbis.com/software/

Additionally Winamp plays oggs.