The source code is now up at
http://rarewares.hydrogenaudio.org/mpc.html
This is supposedly an open-source MPC decoder for the ARM chip. I'm wondering if this source code makes empeg/karma support easy to do, or if ogg support is the only upcoming format for the empeg.
I haven't encoded any MPC files yet, except for test ones, and the benefits of MPC are:
1) Extremely high quality audio (Suitable for archiving and transcoding if lossless is not an option)
2) Very fast encoding time
3) More efficient bitrate usage: MPC has a lower bitrate than MP3s with comparable audio quality. (BTW MPC is VBR only)
The main problems with MPC are very low harware acceptance. Currently, I don't think there are any hardware players! Since I listen to all my music on the empeg (car/living room) or computer (bedroom) I'd make a move towards MPC if there was empeg support. My music would sound a little better, and take up a lot less room. (I'm currently using LAME --alt-preset standard encoded MP3s)
Hope this source code helps out somehow!
-Steve