Sound Files

[dthomo]

Are .wav,.MP3 and .OGG file formats interchangeable? By this I mean can all the .wav files in the Sound folder be converted to .OGG and more importantly will they still function? I'm thinking of the .hyd files that are used by the hydrophone. Wav files are huge compared to the same sound in .OGG format so I'm assuming they will load more quickly and perhaps use less memory.
Any advice would be appreciated.
Regards.