Apple recently introduced their new music service.
As someone who has had a bit of involvement several years ago I already have several comments ranging from positive to negative. I'll sum them up in a few days - I will note that this is the first service worthy of criticism. None of the other commercial services are at this level.
I am absolutely delighted that the aac music codec is finally a core feature of iTunes and the iPod. This is good enough to build a music archive with. For ripping your own music I recommend 160kbps and would claim you could probably get a job as a sound engineer if you can tell the difference. I would not build a library with 256kbps mp3 or Ogg Vorbis..., so you can tell that I am a real fan.
Get the new iTunes 4 -- the Rendezvous support is fantastic!
The new iPod is approximately swish.