In General, Wav does not embed metadata information.

WMP 11 is actually embedding stuff into a wav file. Rip a track to Wav lossless and Hex edit the results. You will see your AlbumName.ID, and Artist.ID. Though, i cannot identify where the rest of the information is just yet, and I'm begining my search on the net and of course started with you guys. I'll add to my post shortly if I find more.

~Dfy

They are writing to the LIST chunk which is allowed for wav. No album art and limited fields.

hehe, how did I know Spoon would already know what's going on? haha