Technically, to call it a "VCD" the bitrate must never be higher than 1150kbits (at least i think thats the magic number - always forget that one...). Anything higher and it's put under the blanket term "XVCD". 8 bits to the byte, so thats ~143kbytes a second, which is approximately half what the Saturn CD drive is technically capable of.
Yes, that's the same bitrate as an audio CD.