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According to the best information I've seen available in both English and
Japanese, the requirement was dictated by the then chairman of Sony whose
favorite piece of music, Beethoven's 9th, took ~74 minutes to play. The
official speed of 1X is 150 KB/sec and transferring 650 MB (the official
full disk) in 74 minutes requires 149.9+ KB/Sec. The numbers do add up.
Norm
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