I wonder if it's just my age (over 39) and my interest in cutting down clutter in my life and on my computer, but I am no longer concerned with owning music. Now I just want to make sure I have access to music through systems that ensure that musicians and songwriters are being paid.
We have hundreds of LPs and CDs, but after we moved into our current house they went directly into our basement. Now we're relying purely on subscription services and webcasting stations. I have a Mac and two Sonos boxes in my house. The master Sonos box connects to my modem and delivers music around our house ... wirelessly. Through the Sonos I can access my Rhapsody subscription (which I think is a bargain at $12.99 a month), Pandora, any webcast station, and my own iTunes folder (burned CDs or tracks purchased from iTunes/eMusic). This means I have access to hundreds of streaming radio stations, millions of tracks from Rhapsody, or my own playlists, without ever having to fumble through jewel cases or purchase downloads. Sure, there are a few musical holdouts and a bit of missing content, but I have very few problems. Also, I know I can always buy the physical CD if it's that important to me.
Of course, this solution is not portable, but given that I spend the majority of my time working in my house, this has been a very elegant solution. I can still fill up my iPod off my Mac when I need music on the go. PS> I think wi-max in cars will change the game significantly.
Music Subscriptions Could Work, Eventually