QUOTE(ogg @ Oct 18 2002 - 10:45 PM)
IE, what's it's origin
AAC was developed by the AudioCoding industry giants (FhG, Dolby, Sony, Nokia and AT&T, mainly), over the base of MPEG1 audio (mainly MP3).
Development started at the beginning of the nineties, and hasn't stopped yet - non-destructive improvements to the standard are still being added, and MPEG-4 Audio v3 is probably going to be standardized at Q1 2003, with improvements such as SBR (AAC+) and new profiles.
QUOTE
does it have any licensing/patent restrictions like mp3
Actually, it's much worse than MP3.
QUOTE
what's the best encoder/decoder
The best encoder is supposedly FhG AACdemo 2.2, but you will have a hard time trying to find it around.
The best freely available encoder is undoubtedly Psytel AACenc 2.15
The best decoder is probably FAAD2. It's very fast and has excelent quality.
QUOTE
how does it compare to say, Ogg Vorbis
Depends mostly on the bitrate range, the sample, etc.
And, in AAC case, it depends a lot on the encoder used too.
Talking AACenc vs. Ogg, generally ogg wins by a large margin on low bitrates (AACenc isn't well tuned at those bitrates), and AACenc usually wins on high bitrates. But, as I said, depends a lot on the samples used.
Regards;
Roberto.
Edit: Good link to get more info:
http://www.audiocoding.com/wiki/index.php?page=aac