Might be lossy??
checked with Adope Audition: lossless
But Traders says lossy.
SPEC look's OK
Freq  has a drop but not at 1400-1500 like MP3 but at 1700

Could be MD at sp mode with slight compression (lossy but not by much) or DAT at 33/16 lossless ??? hard to tell.

2001-12-02 Miami - Bono IEM

02.12.2001 USA, Miami, American Airlines Arena 

Disc 1: [58:03]
01. All You Need Is Love (PA) [2:58]
02. Trippy Elevation Intro (PA) [1:34]
03. Elevation [3:45]
04. Beautiful Day [4:45]
05. Until the End of the World [5:12]
06. Mysterious Ways [6:22]
07. Out of Control [5:14]
08. Sunday Bloody Sunday [7:23]
09. Stuck In A Moment You Can't Get Out Of / Bono Speaks [6:35]
10. Kite [5:06]
11. In God's Country [4:34]
12. Knockin' On Heaven's Door [4:29]

Disc 2: [63:00]
01. Bono Speaks / Please [6:22]
02. Bad / Who's Gonna Ride Your Wild Horses [7:57]
03. Where the Streets Have No Name [5:59]
04. I Still Haven't Found What I'm Looking For [4:09]
05. Pride (In the Name of Love) [7:29]
06. Bullet the Blue Sky [5:57]
07. What's Going On [2:15]
08. New York / Bono Speaks [8:27]
09. One [5:38]
10. My Sweet Lord [1:06]
11. Walk On / 40 {7:34]

Taper, Equipment, Source: unknown

Lineage: CD-R (trade) > EAC (secure mode) > .FLAC (Level 8)

checked with Adope Audition: lossless

note: another version than the DVD rip of this version: 
Link: http://www.justinscdrtrading.com/u2/elevationthefinalshow.html

this one is more complete with the Intro tracks and has another edit. 
i did not find out the exactly source, lineage, history yet.