For file sharing, mp3 has the big advantage of compatibility. Many "mp3" players play mp2 files, but
not all.
You should try the harpsichord sample from here...
http://sound.media.mit.edu/mpeg4/audio/sqam/...most mp2 encoders hate it.
Of course mp3 cannot do 384kbps (free format ignored because it's near useless), but high bitrates come at a cost, and most broadcasters in the UK use 128kbps mp2 for broadcast on DAB (though our DAB service, despite being the most successful in the world in terms of receivers sold, is seeing many digital-only radio stations close).
If you're talking about FM broadcasters, and what they have on their studio servers, I think you would struggle to hear a difference. The problems mp3 has above 16kHz are irrelevant. The occasional smearing due to the DCT transform will also be pretty irrelevant compared to the huge effect of the heavy dynamic range compression that most radio stations apply.
You should always ABX to confirm what you think you hear. Use foobar2k.
I think it's wrong to suggest that high bitrate mp2 always out performs high bitrate mp3. The problems are different, but I don't think anyone has fairly tried to quantify them with modern encoders. At high bitrates, most people struggle to hear any problems at all, and most content can be transparently encoded.
Cheers,
David.