Wow now thats an interesting and unusual question !
Cant say i have have tried that form of sample manipulation before (databending?) but according to a bit of reading i have done your better to use mp3 files over wav files. Theres no hard or fast rules or likely things to replace x with y to get z result, experimentation seems like its key.
Personally though i would think that editing it in a photo shop program would be a bit more fun than just a text editor I also imagine it would give different results too but still remain quite glitchy.
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