What if you are using your own recording?
If you have made your own recording of an existing musical composition, better known as a 'cover version', you are the sound recording owner and will only need to obtain an MCPS licence for any physical products you produce.
An mp3 being submited for review is not a physical product and if it not for sale then technically it is not a product.
While I'm here, how about submitting entires as 320kps mp3's?
I know someone will have a pop at me that it's not as good quality as a wav. but if everyone submits their work like that then does it really make a difference???