DJ,
You state
QUOTE (xyz168 @ Jan 22 2008, 07:33 PM)

1. Simply stated, sonic velocity is the velocity of sound in that fluid (a gas/vapor). It is a maximum that can be achieved by the fluid. Does this apply to liquid (ie. water, hydrocarbon, etc.) as well?
Velocities higher than sonic can be achieved by various means. Chief among them in our industry would be through the use of a converging-diverging nozzle. Despite this, the times when we would be interested in achieving supersonic velocities are few and far between, and we can therefore think of sonic velocity as a practical limit in most cases.
Sonic velocity in a liquid is
much higher than sonic velocity in a gas or vapor. I have not seen of situations where achieving sonic velocity in liquid flow is a concern. That may just be my lack of opportunity. I would think that sonic velocities are reached inside modulating valves when pressure drops are high. I have never heard of reaching anywhere near sonic velocity in a liquid filled pipe. If such situations exist, I would be curious to hear more of them.
Your second question
QUOTE (xyz168 @ Jan 22 2008, 07:33 PM)

2. Sonic velocity is the maximum speed can be reached by a fluid. So...sonic velocity cannot be greater than 100%, am I right?
was addressed above.
I'll defer answering the third question to those more knowledgable than myself in code requirements.
Doug