Let the hive mind of Engadget get that for you.
"I am looking for a device that will stream sound from one source to several recipients. For example, I want to stream sound from my TV or stereo to my phone or MP3 player that has radio and Bluetooth capabilities. I have looked into radio transmitters and they seem like a decent choice, but I can't find one that uses external power (USB or from the plug) and I would want one with a transmit range of around 50 meters. Thanks!"
They do for MPEG2, but considering the number of HD channels available and the amount of bandwidth they will have, there isn't any reason MPEG4 will be HD-Lite.
the reason why there is and will be "HD Lite" is that they like to make the most money on the least amount bandwidth used with the least amount of effort possible. pretty much how most corporations operate unfortunately. Beyond that, they might have capacity for 150 hd channels or whatever the claim is, there is not even close to that many channels yet, and won't be for some time.