Yes wav is better than mp3.
I am a huge fan of radio head but opted for the mp3 version. If I feel like I need better quality I will just buy the CD when it gets released a month or so later.
Can't currently see for my coutry, but in the UK it is 9 pounds versus 6 pounds (not too bad IMO) and folks are reporting that it is full CDDA. Huzzah.
I paid for and downloaded the .WAV-Version. I was kind of annoyed though that they don't offer a version in some lossless codec like ALAC or FLAC that has tagging capabilities. You shouldn't have to enter basic metadata yourself...
People are even arguing over whether it's supposed to say Mr Magpie or Mr. Magpie.