Nice '60s sounding song Kevin. A few things on the mix and arrangment;
The guitars are very brittle sounding, whereas the vocals are coming across quite 'middley' and muffled. I couldn't really make out the lyrics to be honest. Drums are OK, bass is fine. Lead guitars maybe a bit loud.
I liked the synth/guitar section at around 2:25, however, after that it kind of meandered on for a full minute and I was thinking 'where's the song gone?'
A bit more tweaking (sorry!) and you've got a good one here.
Regarding the MP3 thing, you shouldn't hear much difference between a WAV and a 320kbps MP3, but Reverbnation is no doubt streaming at a much lower rate than that.