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Hi Dave,
To answer your questions:
"since this is streaming music, do these statistics mean anything?"
Absolutely! What these statistics are stating are the bit rates for the files where the files have been encoded to some form of lossy compression such as mp3 or wma or real audio. The higher the bit rate the less compression and the less compression the better the sound. By the way the "44.1 sample rate" given by the BBC Raido really doesn't mean anything other than perhaps indicating that the files come a CD.
"If they do, how do they compare to the metrics for Red Book CD?"
A red book CD has a sample rate of 44.1kHz with a bit depth of 16. Please note that sample rate is not the same as bit rate. for a good explanation of what each one means and how and why they are different read this link:
http://thestereobus.com/2008/01/12/sample-rate-and-bitrate-the-guts-of-digital-audio/