Rayleigh and Mandel'shtam-Brillouin scattering (RMBS) spectroscopy and high temperature ultrasonic study (HTUS) are applied to PbO-Al2O3-B2O3 glass forming system characterized by over liquidus miscibility gap. Temperature dependences of ultrasonic velocity of glass melts were measured in 600-1200°C range. "Frozen-in" density fluctuations in two phase glasses were estimated from HTUS data by Macedo-Shroeder formulation. Landau-Placzek ratios were found from RMBS spectra of single phase glasses at room temperature. Results of RMBS and HTUS were compared with well-known SAXS data. It was found that contribution of "frozen-in" density fluctuations into light scattering by two-phase glasses is much smaller than the scattering on particles of the second glassy phase causing opalescence of the glasses. Abnormal "water-like" growth of ultrasonic velocity with melt temperature can be explained by coexistence of two types of packaging of structural elements.