About this OGG thing ....

OGG is new to me. Can someone tell me what it is good for?

Straight from Wikipedia (http://en.wikipedia.org/wiki/Ogg):

Ogg is a free, open standard container format maintained by the Xiph.Org Foundation. The Ogg format is unrestricted by software patents and is designed to provide for efficient streaming and manipulation of high quality digital multimedia.

The name ‘Ogg’ refers to the file format which can multiplex a number of separate independent free and open source codecs for audio, video, text (such as subtitles), and metadata.

In the Ogg multimedia framework, Theora provides a lossy video layer, while the music-oriented Vorbis codec most commonly acts as the audio layer. The human speech compression codec Speex, lossless audio compression codec FLAC, and OggPCM may also act as audio layers.

The term ‘Ogg’ is commonly used to refer to audio file format Ogg Vorbis, that is, Vorbis-encoded audio in the Ogg container. Previously, the .ogg file extension was used for any content distributed within Ogg, but as of 2007, the Xiph.Org Foundation requests that .ogg be used only for Vorbis due to backward compatibility concerns. The Xiph.Org Foundation decided to create a new set of file extensions and media types to describe different types of content such as .oga for audio only files, .ogv for video with or without sound (including Theora), and .ogx for applications