I answered my own question, and here is the answer for anyone interested. These are the specs for YouTube quality for audio. Actually, it looks like you can transmit high quality audio given the availability of flak and wave formats, however than the unknown becomes the microphone quality and the recording process.
Audio file guidelines
The following guidelines are for audio tracks that you provide to YouTube. These guidelines describe the formatting specifications that yield the highest quality for playing audio on YouTube and for matching your audio tracks to the audio tracks of user-uploaded videos. Note that an audio track would only be played back on YouTube if you have opted to include that track in YouTube's AudioSwap program. Generally, we recommend that you upload the highest quality audio possible.
- Supported file formats:
- MP3 audio in MP3/WAV container
- PCM audio in WAV container
- AAC audio in MOV container
- FLAC audio
- Minimum audio bitrate for lossy formats: 64 kbps
- Minimum audible duration: 33 seconds